- Title
- De-industrialisation and the economic crisis in Zimbabwe
- Creator
- Dlamini, Trinity Nkosilathi
- Subject
- Community life
- Subject
- Land reform -- Zimbabwe
- Subject
- Sustainable development -- Zimbabwe
- Date
- 2014-12
- Type
- Master's thesis
- Type
- text
- Identifier
- http://hdl.handle.net/10353/25915
- Identifier
- vital:64563
- Description
- Zimbabwe has faced massive de-industrialization in the past decade. Decline in manufacturing production has immensely contributed to the economic crisis that hit the country since 1997. Most scholars have regarded the land reform program as the main contributor to the economic crisis but this study reveals how industrial decline led to the same crisis. Sustainable economic growth should be consistent with high levels of employment. This can be achieved through a strong role by a developmental state with autonomy over industrial development and guiding the process of capital accumulation. During the Unilateral Declaration of Independence (UDI) period, there were high levels of economic growth with the manufacturing sector emerging as the leading sector in the country`s economy. However, this growth failed to translate into economic development. The UDI regime had favoured capital-intensive production, controls on trade, foreign currency and the exchange rate system. With the attainment of independence, the post-independence government had to alter policies so as to expand productivity and create employment opportunities for the previously marginalized black people. This study notes that the state failed to invest accumulated capital and diversify production in the years it had achieved strong economic growth. The state did not address the issue of transformation of colonial production processes through policy. It failed to promote labour-intensive production and there was inadequate investment in expanding the manufacturing sector. The Zimbabwean economy has the potential to generate significant investible capital but it is never reinvested locally in a more balanced and integrated pattern of development. Even with the liberalization of the economy in 1991 through the Economic Structural Adjustment Program (ESAP), the country never achieved the targeted economic growth. Focus further shifted towards investing on capital-intensive production in the agricultural sector at the expense of labour-intensive industries. Therefore, the decline in manufacturing production in the early 1990s led to the economic crisis in Zimbabwe.
- Description
- Thesis (MSoc) -- Faculty of Management and Commerce , 2014
- Format
- computer
- Format
- online resource
- Format
- application/pdf
- Format
- 1 online resource (138 leaves)
- Format
- Publisher
- University of Fort Hare
- Publisher
- Faculty of Management and Commerce
- Language
- English
- Rights
- University of Fort Hare
- Rights
- All Rights Reserved
- Rights
- Open Access
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | Trinity-Masters thesis.pdf | 1 MB | Adobe Acrobat PDF | View Details Download |