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1. A Tightening Balancing Act: Economic Implications of Zambia's Balance of Payments Performance

Author:
Caesar Cheelo and Thulani Banda
Publication Date:
06-2017
Content Type:
Working Paper
Institution:
Zambia Institute for Policy Analysis and Research (ZIPAR)
Abstract:
International trade and investment are primary drivers of globalization, international trade and development. In 2014, Zambia’s trade openness – in terms of total monetary flows on all export and import transactions combined – was estimated at 79.6% of GDP while the total (cumulative) stock on inward FDI was 66.5% of GDP. The recent economic headwinds in Zambia and abroad motivated this review of the country’s external position relative to the rest of the world. This paper highlights the changes in the balance of payments (BOP), a key tool for monitoring Zambia’s economic performance vis-à-vis the rest of the world. The balance of payments shows the Zambia’s financial transactions with other countries in the world, recoding the flows of money into and out of the economy through a number of payments accounts. Checking the economy’s balance of payments position offers useful insights about its external sector’s health. In a sense, the monetary flows through the balance of payments reflect Zambia’s net dependency on the rest of the world. The context of the analysis in the paper is the economic malaise of 2015. The paper thus demonstrates that the economic debacle of 2015 is not an unfamiliar experience for Zambia. It draws on the country’s economic recent history, identifying parallels between the past and the present. It seeks to offer guidance to policy-makers, towards fostering foster effective and reliable responses to the external balance challenges. Particularly, the paper analyses the fundamental elements of Zambia’s balance of payments, describing their recent behaviour and highlighting some of the main drivers of imbalances in the different payments accounts. It recommends measures for correcting some of the imbalance in the balance of payments, seeking to contribute to the improvement of the external sector’s performance.
Topic:
Economics, International Trade and Finance, and Trade
Political Geography:
Africa and Zambia

2. China-Africa Trade Developments and Impacts: Case of China-Zambia Relations

Author:
Caesar Cheelo, Pamela Nakamba-Kabaso, and Zhun Che
Publication Date:
09-2017
Content Type:
Policy Brief
Institution:
Zambia Institute for Policy Analysis and Research (ZIPAR)
Abstract:
At a glance, China and Zambia – just like China and Africa – are strikingly different in many ways. They followed markedly different paths to development. They achieved significantly divergent trade and development results. However, they also have many striking commonalities, including a shared long history of developmental cooperation and relations. But, what are the lessons of China-Zambia relations for Zambia’s developmental goals and aspirations, including those in the Vision 2030? This study sought to undertake a critical comparative assessment of the trade (and other underpinning socioeconomic) developments in China, Africa and Zambia, with a view to understanding their impetus as well as their consequences, both positive and negative, for China- Africa and China -Zambia ties. It offers unique perspectives and understanding about China-Africa and China-Zambia relations. It takes a look at the history and present-day China- Africa and China-Zambia relations, considering the social and cultural ties that have defined cooperation as well as the political and diplomatic relations that have been forged over time. It unravels the trade and development implications of these relations for Zambia, Africa and China.
Topic:
International Relations, Development, Bilateral Relations, and Trade
Political Geography:
Africa, China, Asia, and Zambia