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A framework for macroeconomic consistency for Zimbabwe

Author

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  • Khadr, Ali
  • Schmidt-Hebbel, Klaus

Abstract

The objective of this paper is to apply a framework for macroeconomic consistency to Zimbabwe. Using annual data for 1981and 1987, the paper illustrates the usefulness of imposing consistency on the flow budget accounts (in both current and constant prices) of a developing economy. It presents the following comprehensive six-sector application: the central government, public enterprises plus local government, the central bank, the deposit banking system, the nonfinancial private sector, and the external sector. This framework provides: (a) an organizing device with which to check the internal consistency of data; (b) a snapshot of the principal resource transfers in the economy, which can be helpful in diagnosing and analyzing macroeconomic imbalances and unsustainable resources flows; and (c) a tool for financial programming or a first step in a model-building effort that entails specifying behavioral relationships.

Suggested Citation

  • Khadr, Ali & Schmidt-Hebbel, Klaus, 1989. "A framework for macroeconomic consistency for Zimbabwe," Policy Research Working Paper Series 310, The World Bank.
    • Handle: RePEc:wbk:wbrwps:310
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    References listed on IDEAS

    as
    1. Khadr, Ali & Schmidt-Hebbel, Klaus, 1989. "A method for macroeconomic consistency in current and constant prices," Policy Research Working Paper Series 306, The World Bank.
    2. Easterly, William, 1989. "A consistency framework for macroeconomic analysis," Policy Research Working Paper Series 234, The World Bank.
    3. Meyer, Laurence H., 1975. "The balance sheet identity, the government financing constraint, and the crowding-out effect," Journal of Monetary Economics, Elsevier, vol. 1(1), pages 65-78, January.
    4. Marshall, Jorge & Schmidt-Hebbel, Klaus, 1989. "Un marco analítico-contable para la evaluación de la política fiscal en América Latina," Series Históricas 9052, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    Cited by:

    1. Elbadawi, Ibrahim A. & Schmidt-Hebbel, Klaus, 1991. "Macroeconomic structure and policy in Zimbabwe, analysis and empirical model : 1965-1988," Policy Research Working Paper Series 771, The World Bank.

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