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Structural Adjustment and Diversification in Zambia

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  • Fons Meijer

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.

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  • Fons Meijer, 1990. "Structural Adjustment and Diversification in Zambia," Development and Change, International Institute of Social Studies, vol. 21(4), pages 657-692, October.
    • Handle: RePEc:bla:devchg:v:21:y:1990:i:4:p:657-692
    DOI: 10.1111/j.1467-7660.1990.tb00394.x
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    References listed on IDEAS

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    1. Gulhati, Ravi & Sekhar, Uday, 1982. "Industrial strategy for late starters: The experience of Kenya, Tanzania and Zambia," World Development, Elsevier, vol. 10(11), pages 949-972, November.
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    3. Ravi Gulhati & Swadesh Bose & Vimal Atukorala, 1986. "Exchange Rate Policies in Africa: How Valid Is the Scepticism?," Development and Change, International Institute of Social Studies, vol. 17(3), pages 399-423, July.
    4. Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-848, December.
    5. J. Peter Neary & Sweder van Wijnbergen, 1985. "Natural resources and the macroeconomy : a theoretical framework," Working Papers 198536, School of Economics, University College Dublin.
    6. Streeten, Paul, 1987. "Structural adjustment: A survey of the issues and options," World Development, Elsevier, vol. 15(12), pages 1469-1482, December.
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    Cited by:

    1. Peters-Berries C., 1993. "Putting development policies into practice: the problems of implementing policy reforms in Africa," ILO Working Papers 992931173402676, International Labour Organization.
    2. repec:ilo:ilowps:293117 is not listed on IDEAS

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