Abstract
The three preceding chapters have presented how formal and informal institutional change in Zambia between 1964 and 1970 facilitated economic exclusivity, including but not limited to a significant reduction in private investment and decision-making, and how this contributed to a balance-of-payments crisis between 1976 and 1978. This chapter shows how, despite the IMF’s support and rising copper prices in the late 1970s, the trajectory on which these institutions put Zambia’s economy was not easily altered, resulting in 1981 in a repeat of the crisis experienced five years earlier.
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
Berg, E., Amoako, K. J. and Guesten, R. (1981). Accelerated development in Sub-Saharan Africa: An agenda for action. World Bank.
Bates, R. H. (1981). Markets and states in tropical Africa: The political basis of agricultural policies. University of California, Pr.
Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning. In: Kaunga, E. C. and Ncube, P. D. (1985). The Zambian Economy: Problems and Prospects. Lusaka: University of Zambia, pp. 163–164.
Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning. In: Kaunga, E. C. and Ncube, P. D. (1985). The Zambian Economy: Problems and Prospects, University of Zambia, Lusaka, p. 167.
Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, Politician, Lawyer: My Autobiography. Lusaka: Bookworld, p. 289.
Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning. In: Kaunga, E. C. and Ncube, P. D. (1985). The Zambian Economy: Problems and Prospects, University of Zambia, Lusaka, p. 162.
Ncube, P. D., Sakala, M. and Ndulu, M. (1987). The International Monetary Fund and the Zambian Economy. In: Havnevik, K. (1987). The IMF and the World Bank in Africa: conditionality, impact and alternatives, p. 136.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 580.
Craig, J. R. (2001). Putting privatisation into practice: the case of Zambia Consolidated Copper Mines Limited. Journal of Modern African Studies, 39(3), 389–410.
Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning, Lusaka. In: University of Zambia (1984). The Zambian Economy: Problems and Prospects, pp. 165–6.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 581.
World Bank, Financing Adjustment with Growth in Sub-Saharan Africa, 1986–1990, 1986. Washington DC: World Bank, p. 24.
Aron, J. and Elbadawi, I. (1992). Parallel markets, the foreign exchange auction, and exchange rate unification in Zambia. Washington DC: World Bank.
Bates, R. H. (1981). Markets and states in tropical Africa: The political basis of agricultural policies. Berkeley: University of California Press.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 592.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 586.
Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank.
World Bank, Zambia: Country Economic Memorandum, and Bank of Zambia, Quarterly Financial and Statistical Review, various issues, quoted in Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 580–581.
McPherson, M. F. (1995). The sequencing of economic reforms: Lessons from Zambia (No. 516). Cambridge, MA: Harvard Institute for International Development.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 581, 586.
Bates, R. H. and Collier, P. (1995). The politics and economics of policy reform in Zambia. Journal of African Economies, 4(1), 115–143, 135.
Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi-Party Democracy, 1982–1991. Journal of Southern African Studies, 32(2), 293–312, 302–303.
Rakner, L. (1993). Political transition and economic reform. The role of labour in Zambian National Politics. In Forum for Development Studies (Vol. 20, No. 2, pp. 131–147). Taylor & Francis Group.
Burawoy, M. (1972). The colour of class on the copper mines, from African advancement to Zambianization (Vol. 7). Manchester University Press [for] the Institute for African Studies, University of Zambia, p. 28.
Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank, pp. 42–43.
Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank, p. 43.
Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi-Party Democracy, 1982–1991. Journal of Southern African Studies, 32(2), 293–312, 294.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 581.
Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579–594, 590.
Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, Politician, Lawyer: My Autobiography. Lusaka: Bookworld, p. 283.
Rakner, L. (2003). Political and Economic Liberalisation in Zambia: 1991–2001. Stockholm: Nordic Africa Institute, p. 62.
World Bank, World Development Report, 1991. The Challenge of Development, Washington DC: World Bank, p. 2.
World Bank, World Development Report, 1991. The Challenge of Development, Washington DC: World Bank, p. 25.
Bonnick, G. G. (1997). Zambia Country Assistance Review: Turning an Economy Around. Washington DC: World Bank.
Saasa, O. S. (2002). Aid and poverty reduction in Zambia: mission unaccomplished. Uppsala: Nordic Africa Institute, p. 43.
Bonnick, G. G. (1997). Zambia Country Assistance Review: Turning an Economy Around. Washington DC: World Bank.
Saasa, O. S. (2002). Aid and poverty reduction in Zambia: Mission unaccomplished. Uppsala: Nordic Africa Institute, p. 44.
Bates, R. H. and Collier, P. (1995). The politics and economics of policy reform in Zambia. Journal of African Economies, 4(1), 115–143, 141.
Andreassen, B. A., Geisler, G. and Tostensen, A. (1992). Setting a Standard for Africa? Lessons from the 1991 Zambian Elections, p. 14.
Larmer, M. (2010). Zambia’s mining booms and busts. In: Fraser, A. and Larmer, M. (Eds) (2010). Zambia, Mining, and Neoliberalism: Boom and Bust on the Globalized Copperbelt. New York: Palgrave Macmillan, p. 47.
Rakner, L. (2003). Political and Economic Liberalisation in Zambia: 1991–2001. Stockholm: Nordic Africa Institute, p. 63.
Wina, A. (1990). Interview given to New African, May 1990. In: Andreassen, B. A., Geisler, G. and Tostensen, A. (1992). Setting a Standard for Africa? Lessons from the 1991 Zambian Elections. Report Chr. Michelsen Institute Department of Social Science and Development, Oslo, p. 12.
Andreassen, B. A., Geisler, G. and Tostensen, A. (1992). Setting a Standard for Africa? Lessons from the 1991 Zambian Elections. Report Chr. Michelsen Institute Department of Social Science and Development, Oslo, p. 14.
Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi-Party Democracy, 1982–1991. Journal of Southern African Studies, 32(2), 293–312.
Nordlund, P. (1996). Organising the political agora: Domination and democratisation in Zambia and Zimbabwe.
Rakner, L. (2003). Political and Economic Liberalisation in Zambia: 1991–2001. Stockholm: Nordic Africa Institute.
Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi-Party Democracy, 1982–1991. Journal of Southern African Studies, 32(2), 293–312, 311.
Meller, P. and Simpasa, A. (2011). Role of Copper in the Chilean & Zambian Economies: Main Economic and Policy Issues, Global Development Network, Working Paper No. 43, June 2011.
Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, Politician, Lawyer: My Autobiography. Lusaka: Bookworld, p. 194.
Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank, p. 48.
Bates, R. H. and Collier, P. (1995). ‘The politics and economics of policy reform in Zambia’. Journal of African Economies, 4(1), 115–143, 141.
Bonnick, G. G. (1997). Zambia country assistance review: Turning an economy around. Washington DC: World Bank, p. 52.
Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank, p. 48.
Larmer, M. ed. (2010). The Musakanya Papers: The Autobiography Writings of Valentine Musakanya. Lusaka: Lembani Trust, p. 65.
Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi-Party Democracy, 1982–1991. Journal of Southern African Studies, 32(2), 293–312, 300, 302.
Andrews, M. (2013). The limits of institutional reform in development. Cambridge: Cambridge University Press.
Author information
Authors and Affiliations
Copyright information
© 2016 Stuart John Barton
About this chapter
Cite this chapter
Barton, S.J. (2016). Conditionality: Inertia and Adjustment (1981–1991). In: Policy Signals and Market Responses. Palgrave Studies in the History of Finance. Palgrave Macmillan, London. https://doi.org/10.1057/9781137390981_6
Download citation
DOI: https://doi.org/10.1057/9781137390981_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-56902-1
Online ISBN: 978-1-137-39098-1
eBook Packages: Economics and FinanceEconomics and Finance (R0)