A Critical Diagnosis of the Success/Failure of Economic Policies in Zimbabwe during the Banana (1980 – 1987) and the Mugabe (1988 – 2017) Administrations: Learning the Hard Way

Abstract

The status of paralysis in which Zimbabwe has slipped throughout the past 37 years might be traced back to the Banana Administration. Since 1980, a number of economic policies have been formulated and subsequently implemented in Zimbabwe and yet the economy is still under intensive care. This puzzle has raised the eye – brows of many economists in Zimbabwe and abroad. Who is to blame? This is the question that is probably lingering in the hearts of many Zimbabweans. It is not easy to come to a point where we may be 100% sure about the one who significantly contributed to the failure/success of any economic policy in Zimbabwe or else where. Thank God, this analysis does not seek to address issues to do with the “blame – game”, but rather attempts to demystify Zimbabwean economic policy dynamics by critically examining the success/failure of economic policies implemented in Zimbabwe since 1980. The researcher also attempts to highlight the important role played by the political economy in the success/failure of any economic policy at disposal. The study unpacks some important lessons in light of the new political dispensation. Amongst the main policy prescriptions, the study recommends the new government to maintain a credible and predictable economic policy landscape.