The Economic Decline of Zimbabwe: Neither Growth nor Equityby 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 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.
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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