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Historical Perspective on Zimbabwe’s Economic Performance

Author

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  • Daniel Makina

    (University of South Africa. [email: makind@unisa.ac.zam])

Abstract

The paper presents a chronological unravelling of the political economy of Zimbabwe. It commences by giving an analysis of economic performance within a framework of four periods, namely, (i) the pre-independence period, (ii) the post-independence period of controls, (iii) the economic liberalization period and (iv) the economic crisis period. It proceeds to discuss the deterioration in economic performance emanating from inappropriate macroeconomic policies followed post-independence. The role of the monetary policy regime in exacer-bating macroeconomic instability is also highlighted. Furthermore, the system of governance is noted to be another significant contributory factor to economic decline. One important insight from the analysis is that the economy had been operating sub-optimally throughout the post-independence period, a factor which is often ignored in research on Zimbabwe. Furthermore, if we take into account the lacklustre performance during the pre-independence period when it was under international sanctions, Zimbabwe could be said to have had ‘five lost decades’ –the 1960s, the 1970s, the 1980s, the 1990s and the decade commencing in the year 2000.

Suggested Citation

  • Daniel Makina, 2010. "Historical Perspective on Zimbabwe’s Economic Performance," Journal of Developing Societies, , vol. 26(1), pages 99-123, March.
    • Handle: RePEc:sae:jodeso:v:26:y:2010:i:1:p:99-123
    DOI: 10.1177/0169796X1002600105
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    References listed on IDEAS

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    1. Mr. Jens R Clausen & Ms. Sharmini Coorey & Bakar Ould-Abdallah & Ms. Sònia Muñoz & Mr. Norbert Funke, 2007. "Lessons From High Inflation Epidsodes for Stabilizing the Economy in Zimbabwe," IMF Working Papers 2007/099, International Monetary Fund.
    2. Frank Barry, Patrick Honohan and Tara McIndoe, Trinity College Dublin, 2009. "Postcolonial Ireland And Zimbabwe: Stagnation Before Convergence," The Institute for International Integration Studies Discussion Paper Series iiisdp291, IIIS.
    3. Lisk, Franklyn., 2002. "Labour market and employment implications of HIV/AIDS," ILO Working Papers 993622093402676, International Labour Organization.
    4. Mr. Arto Kovanen, 2004. "Zimbabwe: A Quest for a Nominal Anchor," IMF Working Papers 2004/130, International Monetary Fund.
    5. repec:ilo:ilowps:362209 is not listed on IDEAS
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    Cited by:

    1. Farai Maunganidze & Debby Bonnin & Shaun Ruggunan, 2021. "Economic Crisis and Professions: Chartered Accountants in Zimbabwe," SAGE Open, , vol. 11(1), pages 21582440219, February.
    2. Johnson Gwatipedza & Thorsten Janus, 2019. "Public investment under autocracy and social unrest," Economics and Politics, Wiley Blackwell, vol. 31(1), pages 112-135, March.

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