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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Development policies in southern Africa: the impact of structural adjustment programmes
Authors:Hope Sr, Kempe RonaldISNI
Kayira, G.
Periodical:South African Journal of Economics
Geographic term:Southern Africa
Subjects:economic development
economic policy
External link:https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.1997.tb01363.x/pdf
Abstract:A comparative analytical review of structural adjustment programmes (SAPs) in southern Africa indicates that their impact has been somewhat mixed and that the full adjustment process is likely to take a good deal longer than initially expected. Lesotho, Malawi, Tanzania, Zambia and Zimbabwe have implemented comprehensive SAPs in relatively peaceful conditions. By the end of 1991, there was some improvement in economic performance and there have been progressive improvements in the fiscal situation of all five countries compared to the pre-adjustment period. The success of attempts to reduce the rate of inflation has varied. There has also been a sharp contrast among the countries in terms of investment performance. All five countries experienced rapid growth in the value of their exports and there have been major strides toward the liberalization of imports. Considerable progress has been made toward the restructuring of the public sector, and there has been some progress in the reduction of State ownership of enterprises. The experience of Mozambique, which has implemented a SAP under civil war conditions, suggests that even under exceedingly adverse conditions, appropriate policy reforms could have a favourable impact on an economy. Indeed, there are no credible alternatives to SAPs as the policy response to the development crisis in southern Africa, and the rest of Africa as well. Bibliogr.