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Policy Signals and Market ResponsesConditionality: Inertia and Adjustment (1981–1991)

Policy Signals and Market Responses: Conditionality: Inertia and Adjustment (1981–1991) [The three preceding chapters have presented how formal and informal institutional change in Zambia between 1964 and 1970 facilitated economic exclusivity, including but not limited to a significant reduction in private investment and decision-making, and how this contributed to a balance-of-payments crisis between 1976 and 1978. This chapter shows how, despite the IMF’s support and rising copper prices in the late 1970s, the trajectory on which these institutions put Zambia’s economy was not easily altered, resulting in 1981 in a repeat of the crisis experienced five years earlier.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Policy Signals and Market ResponsesConditionality: Inertia and Adjustment (1981–1991)

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References (17)

Publisher
Palgrave Macmillan UK
Copyright
© The Editor(s) (if applicable) and The Author(s) 2016
ISBN
978-1-349-56902-1
Pages
117 –135
DOI
10.1057/9781137390981_6
Publisher site
See Chapter on Publisher Site

Abstract

[The three preceding chapters have presented how formal and informal institutional change in Zambia between 1964 and 1970 facilitated economic exclusivity, including but not limited to a significant reduction in private investment and decision-making, and how this contributed to a balance-of-payments crisis between 1976 and 1978. This chapter shows how, despite the IMF’s support and rising copper prices in the late 1970s, the trajectory on which these institutions put Zambia’s economy was not easily altered, resulting in 1981 in a repeat of the crisis experienced five years earlier.]

Published: Dec 21, 2015

Keywords: Foreign Exchange; Policy Space; Political Reform; Market Response; Policy Signal

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