- Title
- The collapse of the Zimbabwe currency and its soci-economic consequences on the middle class : the case of Msasa Park Suburb in Harare
- Creator
- Mambiravana, Tafadzwa
- Subject
- Devaluation of currency -- Zimbabwe Currency crises -- Zimbabwe Zimbabwe -- Economic conditions
- Date
- 2017
- Type
- Thesis
- Type
- Masters
- Type
- MSoc
- Identifier
- http://hdl.handle.net/10353/8375
- Identifier
- vital:32401
- Description
- Currency crashing is one of the recurring problems in emerging economies. The crashes are as a result of the following factors; poor government policies, fiscal imbalances, trade deficits, higher inflations, monetary policies, and liquidity shortage among others. The crashing of currencies poses socio-economic problems that are devastating to different classes of people. To this end, this study sought to investigate the social consequences of currency crash to the middle class in Zimbabwe with a particular focus on the case of Msasa Park suburb in Harare. The study sought to investigate how the middle class households adapted to the situation induced by the crash of the Zimbabwean dollar, to examine how the currency crisis in Zimbabwe affected consumption patterns of the middle class at a household level and to identify the effects of currency crashes to the middle class’ national feeling and identity. The study utilized a qualitative research method in the form of in-depth interviews and focus group discussions. The process was made possible through the use of purposive sampling and quota sampling to generate the targeted participants of the study. The findings of the study have shown that the crash of the Zimbabwean dollar resulted in massive retrenchments, dwindling work opportunities, shrinkages in salaries and wages of employees particularly the middle class. This led to the rampant growth of the informal sector whereby people ended up engaging into extra economic activities outside their professions so as to supplement their incomes. Moreover, the study has shown that some middle class households began to cut out luxurious goods and prioritize basics. As such, their consumption patterns began to change in that their daily meals were reduced. The main reason given by the participants were that groceries were no longer available in shops. Resultantly, the majority of the participants said that they had to either grow their own food or import it from neighboring countries such as Botswana, Zambia and South Africa. In addition, the study yields that crash of the Zimbabwean dollar exacerbated migration of the working class to other countries. Last but not least, the study has shown that the crashing of the Zimbabwean dollar had effects on the class identity of the middle class in that the majority of them completely lost their status since they were experiencing downward mobility.
- Format
- 175 leaves
- Format
- Publisher
- University of Fort Hare
- Publisher
- Faculty of Social Sciences and Humanities
- Language
- English
- Rights
- University of Fort Hare
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details | SOURCE1 | MambiravanaTafadzwa Masters full thesis - FINAL Submission 04-04-17 (1).pdf | 1 MB | Adobe Acrobat PDF | View Details |