Conditionality: Inertia and Adjustment (1981–1991)

Stuart John Barton
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Stuart John Barton: University of Cambridge

Chapter 6 in Policy Signals and Market Responses, 2016, pp 117-135 from Palgrave Macmillan

Abstract: 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: Foreign Exchange; Policy Space; Political Reform; Market Response; Policy Signal (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-1-137-39098-1_6

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DOI: 10.1057/9781137390981_6

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