Rent-seeking resource and institutional challenges in Ghana’s nascent oil economy

Kwasi Dartey-Baah (Department of Organisation and Human Resource Management, University of Ghana Business School, Accra, Ghana)
Kwesi Amponsah-Tawiah (Department of Organisation and Human Resource Management, University of Ghana Business School, Accra, Ghana)
David Aratuo (Department of Organisation and Human Resource Management, University of Ghana Business School, Accra, Ghana)

International Journal of Law and Management

ISSN: 1754-243X

Publication date: 2 September 2014

Abstract

Purpose

The paper aims to assess the institutional readiness of Ghana prior to and after the production of her first oil. The paper also assesses the influence of politics in directing the appropriate use of the oil rents in facilitating the developmental needs of the country.

Design/methodology/approach

The paper uses a literature review of the main theories regarding national politics and institutional policies in explaining the economic demise of a country due to a natural resource find. It also uses the natural resource find in Norway as a case study, drawing lessons from the effectiveness of Norway’s institutional policies in harnessing maximum benefits from their oil find and how developing nations such as Ghana can do same.

Findings

The paper establishes that Ghana’s institutional architecture as regards the production of oil and gas is fraught with inadequacies on all fronts as regards regulations, regulators and the needed logistics. Additionally, the paper also highlights the role of Ghana’s political elite in perpetuating these institutional inadequacies.

Originality/value

The paper highlights the insufficiencies in the institutional readiness for Ghana’s oil find and brings to the fore the influence of Ghana’s politics in contributing to these inadequacies.

Keywords

Citation

Dartey-Baah, K., Amponsah-Tawiah, K. and Aratuo, D. (2014), "Rent-seeking resource and institutional challenges in Ghana’s nascent oil economy", International Journal of Law and Management, Vol. 56 No. 5, pp. 363-386. https://doi.org/10.1108/IJLMA-11-2012-0037

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2014, Emerald Group Publishing Limited

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