Does getting prices right work? Micro evidence from Ghana

The question posed in this paper is whether structural adjustment programs have had the consequences policy intended and theory predicts. It uses evidence from a micro survey of manufacturing firms in Ghana to assess whether policy has effected an expansion of the exportable sector within manufacturing, the growth of small firms and an increase in exports and investment. It is argued that, where policy has been implemented, it has succeeded. The failure of exports and investment to grow rapidly are due to the very partial implementation of the policies of price reform.