Moving beyond the paradox of macroeconomic stability in Uganda?

Van Waeyenberge, Elisa; Bargawi, Hannah

Abstract

This article explores macroeconomic policies in Uganda in the wake of the global financial crisis and following the publication of the 2010 National Development Plan. Despite apparent changes in rhetoric regarding macroeconomic policies by the Ugandan authorities, the paper demonstrates how the commitment to conservative monetary and fiscal policies prevails. The article analyses how the persistently conservative macroeconomic policy stance has exacerbated the lack of economic transformation in the Ugandan economy. The resultant outcome has been a failure to absorb the fast-growing Ugandan labour force into productive and gainful employment. The case is therefore made for an alternative macroeconomic framework that puts public investment at its centre and which complements macroeconomic policies with suitable sector-specific and industrial policies.

Citation

Van Waeyenberge, E., & Bargawi, H. (in press). Moving beyond the paradox of macroeconomic stability in Uganda?. Journal of Contemporary African Studies, 33(1), 121-140. https://doi.org/10.1080/02589001.2015.1021213

• Journal Article Type: Article
• Acceptance Date: Mar 31, 2014
• Online Publication Date: May 6, 2015
• Deposit Date: Aug 8, 2014
• Journal: Journal of Contemporary African Studies
• Print ISSN: 0258-9001
• Electronic ISSN: 1469-9397
• Publisher: Taylor and Francis Group
• Peer Reviewed: Peer Reviewed
• Volume: 33
• Issue: 1
• Pages: 121-140
• DOI: https://doi.org/10.1080/02589001.2015.1021213
• Keywords: Uganda, Macroeconomic Policies, Inequality, Employment