Political Economy of Special Economic Zones (SEZs) Development in Ghana: Regulatory Framework and Historical Institutional Challenges.

This study examines the political economy of Special Economic Zones (SEZs) in Ghana, focusing on the challenges and complexities surrounding their institutional dynamics, governance structures, and stakeholder interests. This study employed a qualitative approach, utilizing both primary and secondary data, with a thematic analysis of in-depth interviews with key SEZ stakeholders. The results highlight Ghana’s expansive legal definition of SEZs, including single factory zones and free ports, which, while flexible, complicate focus and agglomeration benefits. Challenges in public-private partnerships, compliance, and governance, including corruption and insufficient stakeholder coordination, significantly affect the effectiveness of SEZs. The findings suggest that substantial reforms in governance and operational strategies are necessary to maximize the potential of SEZs as engines of economic development in Ghana. The findings underscore the importance of addressing institutional constraints, enhancing policy coherence, and fostering transparency and accountability to maximize the potential of SEZs as drivers of economic growth and development. This research focuses specifically on the political economy of SEZs in Ghana and provides a unique qualitative analysis of regulatory impacts utilizing thematic analysis of interviews with key stakeholders to reveal insights not covered in previous studies.