The Economic Decline of Zimbabwe: Neither Growth nor Equity

The Economic Decline of Zimbabwe: Neither Growth nor Equity

by J. Knight, Carolyn Jenkins
     
 
When Zimbabwe achieved political independence, its new majority government set itself the dual objectives of economic growth and redistribution of resources, neither of which were achieved. The seeds of economic decline were sown soon after independence in unsustainably high government spending, which was financed by private savings, stifling private investment and

Overview

When Zimbabwe achieved political independence, its new majority government set itself the dual objectives of economic growth and redistribution of resources, neither of which were achieved. The seeds of economic decline were sown soon after independence in unsustainably high government spending, which was financed by private savings, stifling private investment and inhibiting employment creation. The burden of adjustment was borne disproportionately by the rural poor, who fared worse than those already in urban employment. Zimbabwe's experience provides valuable lessons for countries struggling with the trade offs between growth-orientated and redistributive policies.

Editorial Reviews

Booknews
The text begins with an overview of the economic policies in Zimbabwe since Independence in 1980, describing the shift away from pro-poor economic policies and the struggles between the urban elite and impoverished rural people, often on racial lines. Subsequent chapters provide an analysis on the country's growth record and pattern of income distribution, and report on a survey of welfare history of 14,000 households. Though listed as co-authors, Jenkins (economics, U. of Oxford and London School of Economics and Political Science) is the main author, contributing six of the nine chapters and co-authoring the introduction and conclusion. Knight (economics, U. of Oxford) wrote the chapter on labor market policies. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN-13:
9780333970270
Publisher:
Palgrave Macmillan UK
Publication date:
03/28/2002
Series:
Studies on the African Economies Series
Edition description:
2001
Pages:
345
Product dimensions:
5.43(w) x 8.50(h) x 0.04(d)

Meet the Author

Carolyn Jenkins works at the Centre of the Study of African Economies at the University of Oxford and at the Centre for Research into Economics and Finance in Southern Africa, London School of Economics and Political Science.

John Knight is Professor and Head of the Department of Economics at the University of Oxford.

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