What exactly do we mean by green growth? For us, it’s not just about riding bikes and planting trees. The Korea Green Growth Trust Fund (KGGTF) defines green growth as adopting an innovative approach toward reaching nations’ goals for sustainable development and addressing climate change. It is a framework for decision-making and a proven process for turning people’s hopes into reality.
I have vivid memories of my first trip to Ghana. It was in July 2006 and I was in the country to do a research on Ghanaian farmers. It was in Accra, where I watched my team, Italy, win the FIFA World Cup final against France. Other than being a lucky charm to me, I thought Accra was a nice and safe town but,I felt that it had the potential to grow.
When I came back seven years later, I was pleasantly surprised by the changes. The city was dotted with new buildings, new roads, and had a really buoyant atmosphere. Of course, Accra is not representative of the whole country, but according to a recent report that Pierella Paci and I presented in October, growth and poverty reduction have been widespread in the country.
Now you may ask as to how Ghana was able to achieve this. In our report, Poverty Reduction in Ghana: Progress and Challenges, we show that sustained and , from 52.6% to 21.4% between 1991 and 2012.( Note: For comparing 1991 and 2012 poverty rates for both absolute and extreme poverty, the study used the 1999 poverty line. Official poverty rates use the new poverty line re-based in 2013.) The impact of rapid growth on poverty has been far stronger in Ghana than elsewhere in Sub-Saharan Africa. Indeed, until 2005 — far above the Sub-Saharan average of 1.6%.
The inaugural Annual Bank Conference on Africa examined strategies for converting economic growth into poverty reduction. Taking an economic historian’s perspective, the prospects are complicated by long-term shifts in fundamental patterns, specifically from land abundance to land scarcity and, relatedly, from labor repression to landlessness as the principal source of poverty.
The Ouagadougou-Accra-Tema corridor, a road stretching from Ouagadougou in West Africa’s Burkina Faso through Ghana’s bustling capital city Accra and onto the country’s port city Tema, is one of Africa’s most well-known corridors. In October, we joined Albert, a 50-year-old driver from Burkina Faso, on a 750 kilometer journey to highlight the high economic costs faced by landlocked countries and the cumbersome border crossings that impede trade.
The journey, which should have taken seven hours by car, took us 17 hours, 1 border crossing and 20 checkpoints.