From currency board to central banking: The Gold Coast experience

A landmark institutional change in the evolution of the monetary and financial system of the west African sub-region, was the exit of the Gold Coast 1 from the West African Currency Board (WACB) and the subsequent setting up of a Ghanaian central bank in 1957. 2 Yet very little is known about the un...

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Bibliographic Details
Published in:The South African journal of economic history 1995-09, Vol.10 (2), p.80-94
Main Author: Uche, Chibuike Ugochukwu
Format: Article
Language:English
Subjects:
Banking systems
Central banks
Developing countries
Economic history
Economic independence
Ghana
Post-colonial societies
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Summary:A landmark institutional change in the evolution of the monetary and financial system of the west African sub-region, was the exit of the Gold Coast 1 from the West African Currency Board (WACB) and the subsequent setting up of a Ghanaian central bank in 1957. 2 Yet very little is known about the underlying forces at work that influenced this process. 3 It is not the intention of this paper to attempt a belated contribution to the literature regarding the merits and demerits of establishing central banks in pre-independent or newly-independent developing countries in the 1950s and 1960s. Rather, an attempt will be made to unravel the various interests at work that influenced the establishment of a central bank for Ghana.
ISSN:1011-3436
2159-0850
DOI:10.1080/10113436.1995.10417249