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Conditionality: Inertia and Adjustment (1981–1991)

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Policy Signals and Market Responses

Part of the book series: Palgrave Studies in the History of Finance ((PSHF))

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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.

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  1. Corpus Christi College, University of Cambridge, UK

    Stuart John Barton

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© 2016 Stuart John Barton

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Barton, S.J. (2016). Conditionality: Inertia and Adjustment (1981–1991). In: Policy Signals and Market Responses. Palgrave Studies in the History of Finance. Palgrave Macmillan, London. https://doi.org/10.1057/9781137390981_6

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