2 resultados para stabilization policies

em Aston University Research Archive


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A systematic analysis is presented of the economic consequences of the abnormally high concentration of Zambia's exports on a commodity whose price is exceptionally unstable. Zambian macro-economic variables in the post-independence years are extensively documented, showing acute instability and decline, particularly after the energy price revolution and the collapse of copper prices. The relevance of stabilization policies designed to correct short-term disequilibrium is questioned. It is, therefore, a pathological case study of externally induced economic instability, complementing other studies in this area which use cross-country analysis of a few selected variables. After a survey of theory and issues pertaining to development, finance and stabilization, the emergence of domestic and foreign financial constraints on the Zambian economy is described. The world copper industry is surveyed and an examination of commodity and world trade prices concludes that copper showed the highest degree of price instability. Specific aspects of Zambia's economy identified for detailed analysis include: its unprofitable mining industry, external payments disequilibrium, a constrained government budget, potentially inflationary monetary growth, and external indebtedness. International comparisons are used extensively, but major copper exporters are subjected to closer scrutiny. An appraisal of policy options concludes the study.

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The article argues that, compared with the other countries in the Western Balkans, the Europeanization of gender equality policies in Bosnia and Herzegovina represents an interesting case of "Europeanization from below". It was not the EU, which called for the introduction of gender equality policies in the Stabilization and Association Process, but domestic policy entrepreneurs, who constructed a "shadow of membership conditionality". They framed their requests as element of the accession process tapping into the aspiration of policy-makers to joining the EU. The case illustrates that Europeanization matters in the Western Balkans, not only in terms of a direct influence of the EU but also because it provides opportunities for domestic policy entrepreneurs to further European objectives themselves.