Charts: Zimbabwe: Full Economics paper analysing GDP damage done by Mugabe’s communist Land Seizures of White Farms

[Here’s a full economics paper written by the same white man, filled to the brim with details of what happened and how the damage to the country was caused directly by the Govt and it had nothing to do with drought or any of their other lies. Jan]

Here’s a link to the full PDF which you can download & read:  zimbabwe economic paper land reform damage

 

Here’s the conclusion. This was probably based on only the initial events. Much worse was to come, but even so this will give you some idea of the scale of the disaster:

Conclusion
This article has demonstrated that the primary cause of Zimbabwe’s
2000–03 collapse was its misguided approach to land reform.
By revoking commercial farmland property titles for commercial
farms, three disastrous consequences occurred: (1) Foreign investors
lost faith in the rule of law and quickly moved money out of the
country; (2) Three-quarters of the value of commercial farmland
evaporated, leading to a net loss of wealth that far exceeded all the
World Bank aid ever given to Zimbabwe; and (3) Agricultural production
levels sharply dropped as commercial farmers took their sophisticated
knowledge of farming practices to other countries. The
collapse of the manufacturing and banking sectors followed as a result.
According to regression estimates made in this article, the overall
ripple effects of the land reforms dragged economic growth rates
down by an annual average of 12.5 percentage points for the years
2000–03, which made Zimbabwe the fastest shrinking economy in the
world.
In contrast to standard explanations, the findings in this article
indicate that the drought played only a minor role in 2001–02; it was
responsible for less than one-seventh of the total 10-percentage point
drop in GDP growth in that year. Rainfall was inconsequential to
Zimbabwe’s collapse in the following years. If it were not for the
above-average rainfall in 2002–03, Zimbabwe’s economy would have
been in even worse shape than it is today.
Zimbabwe thus provides a compelling case study for the perils of
ignoring the rule of law and property rights when enacting (often
well-intentioned) land reforms. We have seen how Zimbabwe’s markets
collapsed extraordinarily quickly after 2000, with a domino-like
effect. The lesson learned here is that well-protected private property
rights are crucial for economic growth and serve as the market economy’s
linchpin. Once those rights are damaged or removed, economies
may be prone to collapse with surprising and devastating speed.

This happens because of the subsequent loss of investor trust, the
vanishing of land equity, and the disappearance of entrepreneurial
knowledge and incentives—all of which are essential ingredients for
economic growth.

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