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Exclusion: Centralisation and Contraction (1970–1974)

In: Policy Signals and Market Responses

Author

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  • Stuart John Barton

    (University of Cambridge)

Abstract

Chapter Three has argued that the first six years of the United National Independence Party’s (UNIP) administration were characterised by reduced institutional constraint on the Executive, and President Kenneth Kaunda’s deepening personal control of the Zambian State and the economy. It argued that rising political exclusivity increased policy uncertainty which raised investors’ perceptions of risk. By 1970, Kaunda’s policies had already triggered the emigration of hundreds of skilled European miners and Indian businessmen and contributed to Anglo American (Anglo) disin vesting more than USD 350 million in financial assets from Zambia’s economy.

Suggested Citation

  • Stuart John Barton, 2016. "Exclusion: Centralisation and Contraction (1970–1974)," Palgrave Studies in the History of Finance, in: Policy Signals and Market Responses, chapter 4, pages 66-90, Palgrave Macmillan.
  • Handle: RePEc:pal:psitcp:978-1-137-39098-1_4
    DOI: 10.1057/9781137390981_4
    as

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