Macroeconomic Policy Reforms and Agriculture: Towards Equitable Growth in Zimbabwe
Romeo M. Bautista
International Food Policy Research Institute, Jan 1, 2002 - Business & Economics - 137 pages
This report investigates the income and equity effects of macroeconomic policy reforms in Zimbabwe, emphasizing linkages between macroeconomic policies and agricultural performance and agriculture's influence on aggregate income and its distribution. Analyses focus on reform of the foreign trade regime, public expenditure, and tax policy, along with the potential benefits of combining these structural changes with various land reform scenarios. The study uses a CGE model that provides a policy simulation laboratory in which exogenous policy changes are analyzed for their economywide income and equity effects.The report highlights the need for policy complementarities in Zimbabwe that can contribute to equitable growth. It should be of interest not only to those concerned with recent economic developments in Zimbabwe but also to those concerned with the broader issues of macroeconomic reform and its ultimate effects.
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Economic Performance and Policies Since Independence
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activity aggregate agricul agricultural growth allocation average budget Calculated by authors capital changes commodity cotton demand domestic price economy of Zimbabwe equation equitable growth equity effects ESAP exchange rate exogenous fiscal deficit foreign exchange foreign trade grain milling Gross domestic product Groundnuts growth in Zimbabwe hectares household groups household income import tax income and equity income gains income tax increased indirect taxes investment labor land reform Large-scale commercial farm linkages LSC farm macroeconomic macroeconomic policy maize manufacturing Marketing margin matrix ment model simulations multiplier national accounts nomic nonagricultural output parameter percent of GDP policy reform private services relative resettlement rural sector SH farm share smallholder farms Source Table tariff tax rate tion trade and transport trade liberalization trade regime tural unskilled urban households value-added workers World Bank Zimbabwe dollar Zimbabwe micro-SAM Zimbabwe's ZimCGE model