Institutions and Institutional Change in Zambia

Stellenbosch Working Paper Series No. WP16/2006
 
Publication date: 2006
 
Author(s):
[protected email address] (Department of Economics, University of Stellenbosch)
 
Abstract:

Research has shown a positive correlation between extractive colonisation and low post-colonial economic growth. This paper provides case study research to explore the possibility that post-colonial extractive institutions were already present in pre-colonial times. In Zambia’s case this is indeed true. Extractive institutions existed in Zambia before colonisation, and colonisation certainly did not improve on them. The question whether countries like Zambia are doomed for failure is also considered, and it is concluded that an environment that allows experimentation is supportive of economic growth and development. With an authoritative regime during the Second Republic, feedback on policy decisions was limited and may provide more of an answer to bad post-colonial economic performance than extractive colonisation.

 
JEL Classification:

N4, N9, O1, O2, O5

Keywords:

Institutions, Institutional Change, Colonisation, Zambia

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As is often the case, domestic financial markets largely ignored local developments, including a lower-than-expected January consumer inflation print, last week and were swept along by the intensification of the global reflation trade. Outside of the inflation release, the domestic data releases continued to show that there was still some recovery momentum...

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