Accra, Ghana – Professor Stefan Dercon of the University of Oxford emphasized the importance of leveraging economic research for Ghana’s rapid socio-economic development. His remarks were made at a conference organized by the Merian Institute for Advanced Studies (MIASA) and the University of Ghana (UG), in collaboration with the Institute of Statistical Social and Economic Research (ISSER), UG, the German Institute for Global and Area Studies (GIGA), and the Kiel Institute for the World Economy.
According to Ghana News Agency, The conference’s theme was ‘Accelerating Africa’s economic transformation towards shared prosperity and sustainability’ and aimed to facilitate the exchange of ideas among researchers, policymakers, development practitioners, and other stakeholders.
Prof. Dercon advised the Ghanaian government to utilize economic insights from research across various disciplines to address the country’s challenges. In a recorded video, Mr. Kevin Chika Urama, Senior Director of the African Development Institute at the African Development Bank Group, stressed the need for Ghana to add value to its raw materials, reduce imports, and create local opportunities, particularly for the youth. He urged Africans to support local products and industries to foster job creation and economic growth.
Mr. Urama highlighted the need for sustainable industrialization and policy development to improve the business environment and economic growth. He suggested that Ghana should use data from the Statistical Service to identify economic opportunities and devise strategic business approaches. This approach, he said, is essential for transforming economies and improving living standards in the sub-region.
MIASA, under the College of Humanities at the University of Ghana, aims to increase the relevance of African perspectives in academic debates. The Institute is jointly sponsored by the German Federal Ministry of Education and Research (BMBF) and the University of Ghana.