This paper examines income dynamics for a panel of households resettled on former white-owned farms in the aftermath of Zimbabwe's independence. There are four core findings: (i) there has been an impressive accumulation of assets by these households; (ii) while this accumulation has played a...

On the basis of a comparative study of 23 episodes involving commodity price shocks we find that both the public and private sectors typically save around half of a windfall gain resulting from a price rise. We argue that private windfalls should be left with the private sector rather than...