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Harnessing Resource Revenues for Prosperity in Zambia

Author

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  • Christopher Adam
  • Anthony Simpasa

Abstract

This paper examines the macroeconomic management of Zambia’s natural resource endowment over the past century. We describe how the state has adopted different strategies to secure a share of the rents from copper mining, how these strategies have affected incentives for exploration and production and how the associated macroeconomic policy regimes have shaped the value and distribution of the natural resource rents. We focus principally on the shift from public back to private ownership and control of the sector that took place at the end of the 1990s and on how the terms of the privatization affected the impact of the commodity price boom of 2003-08 on the domestic economy. We suggest that while the state and people of Zambia captured a nugatory share of the rents accruing from this boom, high levels of investment in the sector, combined with recent reforms to the mining taxation regime and in the conduct of macroeconomic policy have left Zambia better-placed to benefit from future growth in the copper sector.

Suggested Citation

  • Christopher Adam & Anthony Simpasa, 2010. "Harnessing Resource Revenues for Prosperity in Zambia," OxCarre Working Papers 036, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    • Handle: RePEc:oxf:oxcrwp:036
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    File URL: http://www.oxcarre.ox.ac.uk/images/stories/papers/RevenueWatch/oxcarrerp201036.pdf
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    References listed on IDEAS

    as
    1. Stephen O’Connell & Christopher Adam & Edward Buffie, 2008. "Aid and Fiscal Instability," CSAE Working Paper Series 2008-18, Centre for the Study of African Economies, University of Oxford.
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    Cited by:

    1. Anthony Venables, 2010. "Resource rents; when to spend and how to save," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 17(4), pages 340-356, August.
    2. Segal, Paul, 2012. "How to spend it: Resource wealth and the distribution of resource rents," Energy Policy, Elsevier, vol. 51(C), pages 340-348.
    3. repec:oxf:wpaper:oxcarre-research-paper-131 is not listed on IDEAS
    4. Alexander Lippert, 2014. "Spill-Overs of a Resource Boom: Evidence from Zambian Copper Mines," OxCarre Working Papers 131, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.

    More about this item

    Keywords

    Zambia; macroeconomic management; copper mining; rents; natural resources; private ownership; commodity price;

    JEL classification:

    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General

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