Structural Adjustment and Diversification in Zambia

Fons Meijer

Development and Change, 1990, vol. 21, issue 4, 657-692

Abstract: Structural adjustment should go hand in hand with measures to diversify the economy to make it less vulnerable to future changes in the external environment. However, adjustment programmes tend to concentrate on expenditure reduction policies, thereby hampering the necessary diversification. This proposition is elaborated for the economy of Zambia, which is still as dependent on mineral exports as it was twenty‐five years ago at independence. During and after the minerals boom the country suffered from Dutch disease. The subsequent adjustment efforts, reinforced through IMF involvement, did not sufficiently change the bias against tradables production. The latter is taken as a yardstick for diversification. A balanced implementation of expenditure switching policies in a later stage became increasingly difficult when the country also had to adjust to debt repayments.

Date: 1990
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