He asserted that making it easier for skilled workers to leave the country would compel many people to acquire skills which would ensure human capital development and consequently increase the supply of skilled workforce to the Ghanaian economy.

Prof. Nyarko made the call in his keynote address on the topic “Ghana- A Country in Crisis: Defining a New Economic Direction,” at the second edition of the Achimota Speaks Forum which took place last Thursday (November 16).

“There is nothing wrong with our skilled people going to other countries for jobs.

“I hear people complaining that we are losing all our skilled men but on the contrary, economic analysis has shown that if a country allows people to leave and if many people think there is a chance they could leave and get good remuneration outside if they acquire certain skills, it will compel more people to acquire those skills and after those who want to leave have actually left, those who will be left behind will be a large number,” Prof. Nyarko explained.

In addition, he said allowing people to work outside the country had a huge economic benefit as earnings would be sent back home as remittance to support other family members.

Engage with the rest of the world

Prof. Nyarko added that Ghana was still developing, therefore engaging with the rest of the world was the best thing to do to speed up growth in all sectors.

“We should not do things by ourselves and one of the easiest ways to do that is to let people leave.

 Let's encourage it.

“You would not be seeing me here if people said Professor, you can’t leave.

In fact, in my years, we actually had to have an exit visa to leave Ghana.

He said though Ghana had a population of 35 million people, that was small in the contest of the world’s population, thus the need to engage with the world.

“One of the best ways to engage is to allow our people to go into the world,” he emphasised.

The economist also said government must put in more efforts to make Ghana an economic hub for West Africa to drive global investment into the country.

He said the government must spearhead the agenda with the private sector by boosting the country's transport infrastructure, including the reintroduction of a national airline and making ports and road networks efficient.

Citing the United Arab Emirates as an example, he stated that when they gained independence in the early 1971, they decided to make their nation an economic hub by capitalising on the Emirates Airline.

"The Emirates Airline has now become a national airline for Africa, if you want to go from Angola to Ghana, you'd have to pass through Dubai, from Ghana to Kenya you would have to pass through Dubai.Ghana should be doing the same thing," he said.

He said the economic hub effort would also require structural changes in the Ghanaian economy.