During the 1980s the potential instability of Zimbabwe`s unsustainably high budget deficit was reduced by the smooth transfer of resources from the private to the public sector via the domestic financial system, which affected private demand for financial assets. Import, exchange and price...

A striking feature of South Africa`s trade liberalisation is that, until 1995, it did not involve any import liberalisation. The focus of earlier liberalisation was the reduction of anti-export bias, and, on the import side, the replacement of QRs with equivalent tariffs and other duties. This...

A fundamental macroeconomic problem in Zimbabwe is that the sum of public-sector projects is greater than the resources available to finance them. The government`s difficulty in discerning the macroeconomic limitations on new initiatives was greatly increased by the unusual circumstances of the...