Following the end of apartheid and the holding of multi-party elections in 1994, South Africa embarked on new economic and trade reforms and is now rapidly re-integrating its economy into the multilateral trading system. South Africa is by far the largest trading partner in both the Southern...

A fundamental macroeconomic problem in Zimbabwe is that the sum of public-sector projects is greater than the resources available to finance them. The government’s difficulty in discerning the macroeconomic limitations on new initiatives was greatly increased by the unusual circumstances of...