The impact of the colonial legacy on development in the third world states : the case of Ghana

Ghana, like most of the third world countries, is in transition from a traditional society with a colonial heritage to an independent developed society; a society where all available resources could be harnessed to achieve the objectives and goals of national development. Twenty-seven years after independence however, this objective has not been realized. The task of achieving the goals of national development has been painfully slow. There is still a high degree of underdevelopment, poverty, disease and deprivation. The economy has deteriorated over the years. Traditionally, many reasons have been given for this state of affairs. Among them are; bad economic planning, world recession, rising oil bills and lack of ideological direction. In finding solutions to these problems economists have played a leading role with various economic models and theories of development. The problem however remains unresolved. These explanations do not offer adequate analysis of the basis of our underdevelopment. The problem relates to the institutional structures of colonialism.