Economic Management in a Hyperinflationary Environment : The Political Economy of Zimbabwe, 1980-2008

La jaquette du livre indique : "This volume provides an accessible and up-to-date account of the difficulties that the Zimbabwean economy and its population experienced during the crisis which peaked in 2008. It details the suffering and chaos that befell the country with dramatic socio-economic consequences on growth, macroeconomic stability, service delivery, livelihoods, and development. The volume seeks to provide a political economy analysis of leadership and economic management in developing economies based on Zimbabwe's experience. It examines the triggers of the crisis, and the negative impact on productive sectors such as manufacturing and agriculture, social sectors such as education and health, and on financial services. The volume will be of interest to students of policy and economic management, as well as to government departments, central banks in developing countries, development agencies, donors, and NGOs." Content: Cover Economic Management in a Hyperinflationary Environment"" The Political Economy of Zimbabwe, 1980-2008 Copyright Acknowledgements Contents List of Figures List of Tables List of Contributors Introduction Chapter 1: The Political Economy and Evolution of Development Policy in Zimbabwe 1.1 Background 1.2 From Rhodesia to Zimbabwe: Statism, Destabilization, and Racialist Political Economy 1.3 Evolution of Zimbabweś Macroeconomic Policies, 1980-2008 1.3.1 Pre-liberalization Period, 1980-90 1.3.2 The First Phase of the Economic Structural Adjustment Programme (1991-95). Trade `LiberalizationD́omestic Deregulation Financial Sector and Monetary Policy Reform Fiscal Policy and Tax Reform 1.3.3 The Zimbabwe Programme for Economic and Social Transformation 1.3.4 Millennium Economic Recovery Programme 1.4 The Pursuit of Ineffective Macroeconomic Policies 1.5 Costly Political and Policy Decisions 1.6 Structure of the Book References Part I: Overview of the Crisis Chapter 2: Pre-Crisis Macroeconomic Performance and Triggers of the Economic Crisis in Zimbabwe 2.1 Introduction 2.2 Zimbabweś Pre-crisis Macroeconomic Performance 2.2.1 Real Economic Growth. 2.2.2 Fiscal Performance2.2.3 Money Supply Growth 2.2.4 Inflation 2.2.5 Revenue Productivity of the Tax System 2.2.6 Total Debt 2.2.7 Exchange Rates 2.2.8 Balance of Payments and International Reserves 2.2.9 Employment 2.3 Literature Review on Determinants of Economic Growth 2.3.1 Indicators of Macroeconomic Uncertainty 2.3.2 Structural, Political, and Institutional Variables 2.4 Models to Explain Zimbabweś Economic Crisis 2.4.1 Regression Model Initial GDP per capita CPI inflation Government consumption and budget deficit (per cent of GDP) Savings ratio M2/GDP (lagged). Degree of opennessRule of law Dummy 2.4.2 Policy Index 2.4.3 Moderation Model 2.5 Presentation of Results 2.6 Discussion 2.6.1 Economic and Economic Policy Variables 2.6.2 Structural, Political, and Institutional Variables Rule of law Drought 2.7 Conclusions References Part II: Productive Sector Performance Chapter 3: Response of the Manufacturing Sector to the Zimbabwe Economic Crisis 3.1 Introduction 3.2 Manufacturing Sector Growth under Economic Crises: A Literature Review 3.3 The Zimbabwe Manufacturing Sector before Hyperinflation. 3.3.1 Policy Framework Governing the Sector3.3.2 Some Performance Indicators before Hyperinflation Manufacturing sector contribution to GDP Level of production and wages 3.4 The Advent of Hyperinflation and Implications 3.4.1 Performance Indicators under Hyperinflation 3.4.2 Manufacturing Sector Contribution to GDP 3.4.3 Capacity Utilization 3.4.4 Manufacturing Value Added Per Head 3.4.5 Manufactured Exports 3.4.6 Manufacturing Sector Output Growth 3.5 Challenges Experienced by Manufacturers 3.5.1 Lack of Foreign Currency 3.5.2 Unavailability of Raw Materials. This Volume Provides An Accessible And Up-to-date Account Of The Difficulties That The Zimbabwean Economy And Its Population Experienced During The Crisis Which Peaked In 2008. It Details The Suffering And Chaos That Befell The Country With Dramatic Socio-economic Consequences On Growth, Macroeconomic Stability, Service Delivery, Livelihoods, And Development. Overview Of The Crisis -- Productive Sector Performance -- Banking, Capital Markets, And Financial Services -- Monetary Policy And Public Financial Management -- Social Dimensios Of The Crisis -- Concluding Remarks. Edited By George Kararach And Raphael O. Otieno. Includes Bibliographical References And Index. This volume provides a political economy analysis of leadership and economic management in crises in developing economies based on Zimbabwe's experience.