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Wrong-footing MNCs and local manufacturing: Zambia's 1992-1994 structural adjustment program

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  • Muuka, Gerry N.

Abstract

It is now more than five years since the Movement for Multiparty Democracy (MMD) came to power after the October 1991 World Bank and IMF "political conditionality" induced democratic elections in Zambia. Under World Bank and International Monetary Fund (IMF) tutelage, the MMD government embarked upon the most far-reaching market-led economic reforms ever seen in Zambia, under the Structural Adjustment Program (SAP). Using evidence from 43 companies and representatives of Zambian industry, this paper argues that the SAP (as implemented) has wrong-footed the manufacturing sector. The paper apportions the bulk of the blame squarely on the shoulders of the Zambian government, for the unrealistic policies and manner in which it has implemented the Neoclassical Counterrevolution Model, also known as market-based SAP reforms.

Suggested Citation

  • Muuka, Gerry N., 1997. "Wrong-footing MNCs and local manufacturing: Zambia's 1992-1994 structural adjustment program," International Business Review, Elsevier, vol. 6(6), pages 667-687, December.
    • Handle: RePEc:eee:iburev:v:6:y:1997:i:6:p:667-687
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    Cited by:

    1. Dau, Luis Alfonso & Moore, Elizabeth M. & Kostova, Tatiana, 2020. "The impact of market based institutional reforms on firm strategy and performance: Review and extension," Journal of World Business, Elsevier, vol. 55(4).
    2. Carmody, Pádraig, 2009. "An Asian-Driven Economic Recovery in Africa? The Zambian Case," World Development, Elsevier, vol. 37(7), pages 1197-1207, July.
    3. Appiah-Adu, Kwaku, 1999. "The impact of economic reform on business performance: A study of foreign and domestic firms in Ghana," International Business Review, Elsevier, vol. 8(4), pages 463-486, August.

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