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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Indigenous Capitalism in Ghana
Author:Kennedy, Paul
Year:1977
Periodical:Review of African Political Economy
Volume:4
Issue:8
Period:January-April
Pages:21-38
Language:English
Geographic term:Ghana
Subjects:capitalism
bourgeoisie
Economics and Trade
Development and Technology
External link:https://www.tandfonline.com/doi/abs/10.1080/03056247708703309
Abstract:There are several 'myths' about the development of indigenous capitalism in the Third World, which derive from dependency theory. Using case material from Ghana, it is argued that a capitalist class is developing and expanding an already significant base in manufacturing. State aid has been acquired to a limited extant and sometimes by corrupt practice, but often whan indigenous capitalists have been well established. Connections with foreign capital, far from limiting the expansion of local capital, have helped in the local acquisition of managerial and technical skills, leading to independence from and competition against foreign capital. These findings are not normally predictable from standard dependency theory, and suggest the possibility of a national capitalist development.
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