The Sequencing of Fiscal Reform During Stabilization and Structural Adjustment: Lessons from Ghana, Uganda and Zimbabwe

Bawumia, Mahamudu

doi:10.1057/ces.1996.15

Cited by 3 publications

(2 citation statements)

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“…In Zimbabwe state expenditure, excluding interest payments, fell from 38 to 28 percent of GDP from fiscal year 1991 to 1995, but interest payments rose from 7.8 to 11.1 percent of GDP from 1990-91 to -94 (ZCTU 1995World Bank 1996a). Meanwhile, drought, tax reductions, and closures reduced government revenues from 33.4 to 26.8 percent of GDP from 1991-92 to 1993-94 (Bawumia 1996).…”

Section: Exchange Rate Liberalizationmentioning

confidence: 99%

Neoclassical Practice and the Collapse of Industry in Zimbabwe: The Cases of Textiles, Clothing, and Footwear*

Carmody

1998

Economic Geography

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The World Bank predicted that export‐oriented, labor‐intensive manufacturing industries, such as textiles, clothing, and footwear, would expand rapidly once Zimbabwe liberalized its economy under structural adjustment. In sharp contrast to these predictions, however, these subsectors have all but collapsed. A large part of the reason for this disjuncture between neoclassical theory and reality relates to a misunderstanding of the way in which markets, particularly those of trade and finance, interact with production in particular contexts. More appropriate alternative approaches to economic development in Africa must take account of how economic and political actions are embedded in a geographic and politico‐economic context.

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Section: Exchange Rate Liberalizationmentioning

confidence: 99%

Neoclassical Practice and the Collapse of Industry in Zimbabwe: The Cases of Textiles, Clothing, and Footwear*

Carmody

1998

Economic Geography

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“…The fiscal deficit widened as a result of growing pressures and outlays for military spending, budget indiscipline, and weaknesses in expenditure management. During that time, the government accumulated huge expenditure arrears equivalent to 21% of total expenditure commitments, which were financed by the issuance of long‐term bonds (Bawumia, 1996). However, the government did not possess effective tools to mop up the excess liquidity brought about by the loose fiscal policy.…”

Section: Fiscal Policy Reforms In Ugandamentioning

confidence: 99%

Uganda's fiscal policy reforms: What have we learned?

Mawejje

Odhiambo

2021

Public Budgeting & Finance

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This article attempts to provide an exploratory review of policy reforms, trends, and determinants of fiscal deficits in Uganda, a low‐income country that has undertaken many successful economic reforms. Fiscal policy reforms initially sought to stabilize the economy in the post‐crisis period with structural adjustment and economic recovery programs. With the restoration of macroeconomic stability, fiscal objectives shifted to poverty eradication following the promulgation of the Poverty Eradication Action Plan. More recently, a key fiscal policy objective is to unlock key growth and competitiveness constraints with the rolling out of National Development Plans. These reforms achieved much success in the early years, especially in the areas of macroeconomic stabilization and growth because they received support and political goodwill from the highest echelons of government. However, fiscal slippages during more recent years have often threatened to reverse the hard‐earned gains from these reform programs. Consequently, fiscal outcomes have been characterized by revenue shortfalls, budget execution challenges, accumulation of arrears, and rising debt.

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Transnational Policy Process: Analytical Framework

Foli

2023

Sustainable Development Goals Series

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The Sequencing of Fiscal Reform During Stabilization and Structural Adjustment: Lessons from Ghana, Uganda and Zimbabwe

Cited by 3 publications

References 1 publication

Neoclassical Practice and the Collapse of Industry in Zimbabwe: The Cases of Textiles, Clothing, and Footwear*

Neoclassical Practice and the Collapse of Industry in Zimbabwe: The Cases of Textiles, Clothing, and Footwear*

Uganda's fiscal policy reforms: What have we learned?

Transnational Policy Process: Analytical Framework

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