Question

1.Why is political stability an important factor for many countries, including Zimbabwe, in order to have...

1.Why is political stability an important factor for many countries, including Zimbabwe, in order to have a well-functioning economy? Discuss.

2.What other factors besides political stability are important to ensure a well-functioning economy? Discuss.

3.Which is easier for the Federal Reserve to control: inflation or unemployment? Discuss.

4.Which is easier for the European Central Bank to control: inflation or unemployment? Discuss.

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Answer #1

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Political instability is very important determinant for an economy to perform well. This is because a political party which didn't enjoy political support couldn't devise policies which would be beneficial for the citizens.

* The instable government didn't have credibility to bring in reforms and give economic mileage to economy.

* Given that government is unstable the institutions which are essential to deliver justice and see wether the policies are made for the welfare of people would also be unstable. Thus would lead to policy paralysis.

* There will be high corruption in country. As each party would try to feed one another to stay in power.

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