IDEAS home Printed from https://ideas.repec.org/p/unu/wpaper/wp-2018-166.html
   My bibliography  Save this paper

Understanding the implications of the boom-bust cycle of global copper prices for natural resources, structural change, and industrial development in Zambia

Author

Listed:
  • Robert Liebenthal
  • Caesar Cheelo

Abstract

This paper is about understanding the cycle of global copper price booms and busts over Zambia's economic history. We explore how the mining industry has been managed, and wider economic management during boom periods. We find that successive Zambian governments did not use copper revenues to accumulate productive assets, focusing instead on financing consumption subsidies and sustaining inefficient state-owned companies. In recent times, Zambia has accumulated worryingly high levels of sovereign debt with virtually no prospect of official debt relief.

Suggested Citation

  • Robert Liebenthal & Caesar Cheelo, 2018. "Understanding the implications of the boom-bust cycle of global copper prices for natural resources, structural change, and industrial development in Zambia," WIDER Working Paper Series wp-2018-166, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2018-166
    as

    Download full text from publisher

    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2018-166.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bigsten , Arne & Kayizzi-Mugerwa, Steve, 2000. "The Political Economy of Policy Failure in Zambia," Working Papers in Economics 23, University of Gothenburg, Department of Economics.
    2. Marcos Poplawski Ribeiro & Mauricio Villafuerte & Thomas Baunsgaard & Christine J. Richmond, 2012. "Fiscal Frameworks for Resource Rich Developing Countries," IMF Staff Discussion Notes 12/04, International Monetary Fund.
    3. Anand Rajaram & Tuan Minh Le & Kai Kaiser & Jay-Hyung Kim & Jonas Frank, 2014. "The Power of Public Investment Management : Transforming Resources into Assets for Growth," World Bank Publications - Books, The World Bank Group, number 20393.
    4. Adam, Christopher & Collier, Paul & Gondwe, Michael (ed.), 2014. "Zambia: Building Prosperity from Resource Wealth," OUP Catalogue, Oxford University Press, number 9780199660605.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rafael Aguirre Unceta, 2021. "Mining revenue, fiscal space and social policies: the case of Zambia," Working Papers 191, International Policy Centre for Inclusive Growth.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Robert Liebenthal & Caesar Cheelo, 2018. "Understanding the implications of the boom-bust cycle of global copper prices for natural resources, structural change, and industrial development in Zambia," WIDER Working Paper Series 166, World Institute for Development Economic Research (UNU-WIDER).
    2. Musaev, Rasul (Мусаев, Расул) & Malakhov, Anton (Малахов, Антон), 2014. ""Budget Law" in Russia: experience and prospects [«Бюджетное Правило» В России: Опыт И Перспективы]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 161-170, December.
    3. Paul Collier, 2015. "Administración de Ingresos Provenientes de Recursos Naturales: Tres “Relojes” de Política," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 18(2), pages 04-26, August.
    4. García-Cicco, Javier & Kawamura, Enrique, 2015. "Dealing with the Dutch disease: Fiscal rules and macro-prudential policies," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 205-239.
    5. E. V. Ordynskaya & M. V. Cherkovets & K. E. Savchishina, 2024. "Public Investment and Economic Growth in Different Countries," Studies on Russian Economic Development, Springer, vol. 35(6), pages 800-809, December.
    6. Saungweme Talknice & Odhiambo Nicholas M., 2018. "An Analysis of Public Debt Servicing in Zambia: Trends, Reforms and Challenges," Croatian International Relations Review, Sciendo, vol. 24(81), pages 113-136, May.
    7. Samuel Wills, 2012. "Optimal Monetary Responses to Oil Discoveries," Discussion Papers 1408, Centre for Macroeconomics (CFM), revised Apr 2014.
    8. Mrs. Nina Budina & Ms. Andrea Schaechter & Miss Anke Weber & Mr. Tidiane Kinda, 2012. "Fiscal Rules in Response to the Crisis: Toward the "Next-Generation" Rules: A New Dataset," IMF Working Papers 2012/187, International Monetary Fund.
    9. Celine de Quatrebarbes & Bertrand Laporte, 2015. "What do we know about the mineral resource rent sharing in Africa?," CERDI Working papers halshs-01146279, HAL.
    10. Eneas GAKUSI & Michel GARENNE, 2004. "Vulnerability and Resilience Determinants of under-five mortality changes in Zambia," Working Papers 200406, CERDI.
    11. MAKUYANA, Garikai & ODHIAMBO, Nicholas M., 2018. "Public and Private Investment and Economic Growth in Zambia: A Dynamic Approach," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 71(4), pages 503-526.
    12. Gaulier, Guillaume & Santoni, Gianluca & Taglioni, Daria & Zignago, Soledad, 2013. "In the wake of the global crisis : evidence from a new quarterly database of export competitiveness," Policy Research Working Paper Series 6733, The World Bank.
    13. Arne Bigsten & Jörgen Levin & Håkan Persson, 2001. "Debt Relief and Growth: A Study of Zambia and Tanzania," WIDER Working Paper Series DP2001-104, World Institute for Development Economic Research (UNU-WIDER).
    14. Antonio Rojas Canela & Juan Carlos Moreno-Brid, 2022. "A New Index for Public Investment Management," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 17(1), pages 1-15, Enero - M.
    15. Lacina Balma & Mthuli Ncube, 2019. "Working Paper 322- Managing Natural Resource Revenue in Ghana," Working Paper Series 2448, African Development Bank.
    16. Garenne, Michel & Gakusi, Albert Eneas, 2006. "Vulnerability and Resilience: Determinants of Under-Five Mortality Changes in Zambia," World Development, Elsevier, vol. 34(10), pages 1765-1787, October.
    17. International Monetary Fund, 2013. "Republic of Azerbaijan: Selected Issues," IMF Staff Country Reports 2013/165, International Monetary Fund.
    18. Mostafa Amir, Sabbih, 2017. "An Assessment of the Efficacy of Delivering the Annual Development Program in Bangladesh," MPRA Paper 84668, University Library of Munich, Germany.
    19. García-Cicco, Javier & Kawamura, Enrique, 2015. "Dealing with the Dutch disease: Fiscal rules and macro-prudential policies," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 205-239.
    20. Carlos Caceres & Serhan Cevik & Ricardo Fenochietto & Borja Gracia, 2015. "The Day After Tomorrow: Designing an Optimal Fiscal Strategy for Libya," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(4), pages 32-50, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unu:wpaper:wp-2018-166. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Siméon Rapin (email available below). General contact details of provider: https://edirc.repec.org/data/widerfi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.