POLITICAL ECONOMY OF PEACE: THEORETICAL AND CONCEPTUAL PERSPECTIVES, AND IMPLICATIONS FOR GHANA’S PEACE ARCHITECTURE

Abstract

The paper contributes to the burgeoning argument that there exists a relationship between peace and development, and that this relationship is relevant for both political and economic governance. The pursuit of stability, peace, and security is paramount for sovereign states as they are foundational for a nation's well-being, development, and the prosperity of its citizens. Political economy of peace examines the intricate connections between economic and political factors and institutions, and the attainment of these essential objectives. Building on this conceptualisation, authors problematised peace, and hypothesised that there exists a relationship between peace, economy and politics. The paper examined this phenomenon, drawing on theoretical, conceptual and empirical perspectives. Employing exploratory study design, the paper combined in-depth interviews involving 10 participants with secondary data for the analysis. The analysis revealed that peace has become a major concern due to economic, political and ethical dilemmas in most sovereignty states, and that peace is a function of economic and political considerations.

Keywords: Development, Economics, Peace, Politics, Security, Stability, State, Welfare