Topic: How does the political settlement approach or concept explain the political environment
Subject: Business and Management
Paper type: Research Paper
Language: English (U.S.)
Q. How does the political settlement approach/concept explain the political environment and public policy towards business/private enterprise in Ghana?
Democracy is a useful tool in influencing public policy that favors businesses in the private sector in Ghana. Democracy was responsible for Ghana’s efficiencies in policy formulation and implementation and supported economic growth through structural transitions. The structural adjustments ensured the growth and stability of the country’s economy and the overall business atmosphere. Indeed, democracy shaped various sectors of the country’s economy and in particular, the political economy ensured the positive growth outcomes in most business enterprises. Ghana’s elites played crucial roles in recognizing the interdependence between the power structures in the country and the existing institutions because they believed that the outstanding performance of such institutions is the beginning of economic progress (Osei, Ackah, Domfe, & Danquah, 2015)....