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SUMMARY:Why Zambia Failed: Institutional Degradation and Economic Decline 
 Since 1964 - Mr Stuart Barton\, MBA\, CFA (CFH and Corpus Christi)
DTSTART:20130625T160000Z
DTEND:20130625T180000Z
UID:TALK45323@talks.cam.ac.uk
CONTACT:D'Maris Coffman
DESCRIPTION:In 1964 Zambia emerged as ‘Black Africa’s’ richest newly
  independent state. Endowed with plentiful natural resources\, substantial
  foreign reserves\, and a peaceful political history\, its new ‘Humanist
 ’ government soon oversaw a ‘reversal of fortune’. By 1980 Zambia ha
 d become the poorest and - by many measures - most indebted country on the
  planet. How did Zambia’s government allow this to happen? Well-publiciz
 ed accounts have focused on the longer-term effects of colonialism\, falli
 ng terms of trades\, and regional political instability. This paper will i
 ntroduce a further potential cause: the systematic degradation of institut
 ional constraint on the power of the executive\, and the financial disrupt
 ion this caused through the reorganization of capital financing. This pape
 r presents a fresh historical narrative of Zambia’s 50 year economic his
 tory by bringing together unpublished political archives with financial de
 cision-making theory\, and investor reactions.
LOCATION:Lucia Windsor Room\, Newnham College
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