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- Publisher
- Palgrave Macmillan UK
- Copyright
- © The Editor(s) (if applicable) and The Author(s) 2016
- ISBN
- 978-1-349-56902-1
- Pages
- 136 –156
- DOI
- 10.1057/9781137390981_7
- Publisher site
- See Chapter on Publisher Site
Abstract
[After 27 years of United National Independence Party (UNIP) administration, the Zambian economy was in ruin; by 1991 real per capita Gross Domestic Product (GDP) was roughly half its value at Independence, and public debt had grown to exceed twice the country’s GDP.1 The World Bank attributed this disastrous performance to: government interventions and the establishment of numerous parastatals, aimed at achieving well-meaning objectives, [generating] very serious adverse side-effects and [leading] to large misallocation of resources.2]
Published: Dec 21, 2015
Keywords: Gross Domestic Product; Economic Reform; Institutional Reform; Market Response; Policy Signal