Abstract
Ever since the discovery of extensive copper reserves in the 1920s, the same challenge continues to confront Zambia: how to convert this natural wealth into an equitably distributed and sustainable flow of resources to the citizens of the country. This raises questions of how to support employment and growth in the non-mineral economy and how to do so without destroying the incentives for mining exploration and production.2 These are profoundly difficult challenges.
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Notes
See E.A.G. Robinson, “The Economic Problem” in J. Merle Davis, ed., Modern Industry and the African, 131–226 (London: Macmillan, 1933).
Paul Cashin and C. John McDermott, “The Long-run Behavior of Commodity Prices: Small Trends and Big Volatility,” IMF Staff Papers 49, no. 2 (2002): 175–199.
Francis L. Coleman, The Northern Rhodesia Copperbelt 1899–1962: Technological Development up to the End of the Central African Federation (Manchester: Manchester University Press, 1971).
See Robert I. Rotberg, Ending Autocracy, Enabling Democracy: The Tribulations of Southern Africa 1960–2000 (Washington, DC: Brookings Institution, 2002).
Robert H. Bates and Paul Collier, “The Politics and Economics of Policy Reform in Zambia,” Journal of African Economies 4, no. 1 (1995): 115–143.
Christopher Adam, “Fiscal Adjustment, Financial Liberalization and the Dynamics of Inflation: Some Evidence from Zambia,” World Development 23, no. 5 (1995): 335–370.
Nic Cheeseman and Marja Hinfelaar, “Parties, Platforms and Political Mobilization: The Zambian Presidential Elections of 2008,” African Affairs 109, no. 434 (2009): 51–76.
World Bank, “Zambia: Privatisation Review, Facts, Assessment and Lessons,” Report prepared at the request of the Minister of Finance and National Planning, 2002.
See Francis Kaunda, Selling the Family Silver: The Zambian Copper Mines Story (Lusaka, Zambia: Printpak Books, 2002).
The specifics of the various DAs are laid out in a table in the appendix to Alastair Fraser and John Lungu, For Whom the Windfalls? Winners and Losers in the Privatization of Zambia’s Copper Mines (Lusaka, Zambia: CSTNZ, 2007). Available online.
PricewaterhouseCoopers, “Comparative Mining Tax Regimes: A Summary of Objectives, Types and Best Practices” (unpublished mimeo, 1998).
International Monetary Fund, “Zambia: Request for Three-year Agreement under PRGF: Staff Assessment,” IMF Country Report 08/187, 2008.
Fraser Institute, “Fraser Institute Annual Survey of Mining Companies (2007/2008)” (Vancouver, BC: Fraser Institute, 2008).
See Christopher Adam, Edward Buffie, Stephen O’Connell, and Catherine Pattillo, “Monetary Policy Rules for Managing Aid Surges in Africa,” Review of Development Economics 13, no. 3 (2008): 464–490.
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© 2010 Alastair Fraser and Miles Larmer
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Adam, C.S., Simpasa, A.M. (2010). The Economics of the Copper Price Boom in Zambia. In: Fraser, A., Larmer, M. (eds) Zambia, Mining, and Neoliberalism. Africa Connects. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230115590_3
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DOI: https://doi.org/10.1057/9780230115590_3
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