Download or read book The Decline of the South African Economy written by Stuart Jones and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa's leading economists adopt within this volume a sectoral approach in their analysis of the drastic changes that have occurred within the South African economy since 1970. The book illustrates how, despite its sophisticated infrastructure, the South African economy has shared in the economic decline - resulting from misguided economic policies - that has been the experience of Sub-Saharan Africa. The contributors argue that the failure of manufacturing to maintain the country's economic growth, once the output of the gold mines began to decline, is central to an understanding of events and outcomes in the economy. Government policy towards manufacturing has played a major part in the decline of the South African economy, but this has, however, tended to be overlooked as a result of the turbulence generated by the political events unfolding in South Africa.
Download or read book The Oxford Handbook of the South African Economy written by Arkebe Oqubay and published by Oxford University Press. This book was released on 2021-11-18 with total page 1120 pages. Available in PDF, EPUB and Kindle. Book excerpt: While sharing some characteristics with other middle-income countries, South Africa is a country with a unique economic history and distinctive economic features. It is a regional economic powerhouse that plays a significant role, not only in southern Africa and in the continent, but also as a member of BRICS. However, there has been a lack of structural transformation and weak economic growth, and South Africa faces the profound triple challenges of poverty, inequality, and unemployment. Any meaningful debate about economic policies to address these challenges needs to be informed by a deep understanding of historical developments, robust empirical evidence, and rigorous analysis of South Africa's complex economic landscape. This volume seeks to provide a wide-ranging set of original, detailed, and state-of-the-art analytical perspectives that contribute to scientific knowledge as well as to well-informed and productive discourse on the South African economy. While concentrating on the more recent economic issues facing South Africa, the handbook also provides historical and political context. It offers an in-depth examination of strategic issues in the country's key economic sectors, and brings together diverse analytical perspectives.
Download or read book South Africa s Economic Crisis written by Stephen Gelb and published by Zed Books. This book was released on 1991 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The South African Economy 1910 90 written by H.S. Jones and published by Springer. This book was released on 2016-07-27 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theme of the book is how efficient economic organisation with clearly defined property rights in the framework of a market economy has made possible the development of the South African economy. The book is divided into three periods: 1910-33, 1933-61 and 1961-90. Each of them begins with a brief survey of the growth of population and GDP which is then followed by a more detailed sectoral analysis. The book represents an important general survey of the South African economy in the twentieth century and as such will be required reading for all interested in the making of the modern South African economy.
Download or read book Recovering from COVID 19 Economic scenarios for South Africa written by van Seventer, Dirk and published by Intl Food Policy Res Inst. This book was released on 2021-07-06 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the South African economy emerges from the downturn induced by COVID-19, policy makers are concerned with recovery, reconstruction, and transformation. This paper focuses on the recovery from the severely depressed levels of economic activity that occurred in April 2020. However, before considering the period after the economic trough of April 2020, a mention of economic conditions prior to the pandemic is worthwhile. In brief, economic performance was terrible by almost any metric. Furthermore, economic performance had been poor since 2008, with evidence pointing to ongoing deterioration culminating in the fourth quarter of 2019, when per capita GDP contracted, unemployment ticked upwards to its highest level since 1994, productivity declined, and inequality worsened. The striking difficulties of the South African economy in avoiding/absorbing shocks-whether internally generated, such as shocks to electricity supply, or externally generated, such as changes in terms of trade or investor sentiment in relation to emerging markets-have been an integral part of this disappointing economic performance over time. In short, the situation prevailing prior to the onset of the COVID-19 pandemic was one of economic weakness. Beginning from this position of weakness, the economic shock related to COVID-19 was enormous, likely the largest single economic shock in the history of South Africa. According to official statistics, GDP in the second quarter of 2020 was approximately 17% below the level registered in the second quarter of 2019. In assessing this shock, it is important to recall that GDP is a flow concept. One can, in principle, consider the volume of flow over any arbitrary period: a day, a week, a month, a quarter, a semester, a year, and so forth. The lockdown associated with COVID-19 precipitated an extraordinarily rapid decline in economic activity. Indeed, the available analytics and data point to a trough in economic activity, or flow value of GDP, at less than 70% of the level that would have pertained in the absence of the pandemic, or a greater than 30% decline in the flow rate of GDP (Arndt et al 2020). If we accept a 17% reduction as the average flow rate of GDP over the quarter and we accept that the economic shock related to COVID-19 was unprecedently rapid and drove a decline in the flow value of GDP of much more than 17% at the trough (which probably occurred sometime in late April or early May), then we must also accept a rapid recovery in economic activity in May and June in order to achieve an average decline of 17% over the quarter. Furthermore, this relatively rapid recovery continued. GDP in the third quarter of 2020 was “only” about 6% below the levels recorded for the third quarter of 2019, with the corresponding figure for the fourth quarter at about 4%. Other figures, including recent ones, broadly support this basic story. For example, retail sales in February 2021 were up 2.4% year-on-year, with the previous two months, January and December, having registered only a slight decline year-on-year. Correspondingly, manufacturing production and sales were down by 2.1% in February 2021 year-on-year. A few broad observations emerge from this history and the available data. First, the South African economy has exhibited more resilience to the COVID-19 shock than performance up to December 2019 might have led one to expect. In Mexico, for example, the distance between fourth quarter GDP in 2020 and that in 2019 was greater than for the same comparison in South Africa. At the same time, Mexico registered close to twice as many deaths related to COVID-19 per million population as South Africa. Second, multiplier effects are important. As discussed in Arndt et al (2020), multiplier effects accounted for the bulk of the initial economic contraction. However, they also operate positively, buoying the recovery experienced to date and bringing economic activity back towards the levels of 2019. Third, while having GDP about 4% down year-on-year is much better than the 17% decline observed in the second quarter, 4% down is still a deep recession by ordinary standards. While some sectors are producing at close to levels observed in the fourth quarter of 2019, others are more strongly affected. The incidence of these depressed levels of economic activity remains likely to be tilted toward lower-income households, which are more vulnerable to begin with. Overall, there remains substantial slack in the economy, multiplier effects still apply, and many households remain deeply vulnerable to severe economic hardship.
Download or read book The Oxford Companion to the Economics of South Africa written by Haroon Bhorat and published by OUP Oxford. This book was released on 2014-11-27 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1994 South Africa saw the end of apartheid. The new era of political freedom was seen as the foundation for economic prosperity and inclusion. The last two decades have seen mixed results. Economic growth has been volatile. While inequalities in public services have been reduced, income inequality has increased, and poverty has remained stagnant. As the twentieth anniversary of the transition to democracy approaches in 2014, the economic policy debates in South Africa are in full flow. They combine a stocktake of the various programs of the last two decades with a forward looking discussion of strategy in the face of an ever open but volatile global economy. Underlying the discourse are basic and often unresolved differences on an appropriate strategy for an economy like South Africa, with a strong natural resource base but with deeply entrenched inherited inequalities, especially across race. This volume contributes to the policy and analytical debate by pulling together perspectives on a range of issues: micro, macro, sectoral, country wide and global, from leading economists working on South Africa. Other than the requirement that it be analytical and not polemical, the contributors were given freedom to put forward their particular perspective on their topic. The economists invited are from within South Africa and from outside; from academia and the policy world; from international and national level economic policy agencies. The contributors include recognized world leaders in South African economic analysis, as well as the very best of the younger crop of economists who are working on the study of South Africa, the next generation of leaders in thought and policy.
Download or read book Everyone s Guide to the South African Economy 13th edition written by André Roux and published by Penguin Random House South Africa. This book was released on 2019-12-01 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recession, inflation, interest rates, income tax, exchange rates ... We are bombarded with these terms every day - by newspapers, the radio, TV and the internet - but what do they actually mean? And how do they impact on you? In this updated edition of Everyone’s Guide to the South African Economy, all these issues - and more - are addressed. The book clearly explains and evaluates a wide range of economic occurrences - from the budget and the rand/dollar exchange rate to the balance of payments and the role of the South African Reserve Bank. The book investigates the causes and consequences of the 2008/2009 global financial and economic crisis, looks at the sub-Saharan African economy, and explores human development issues in South Africa and their implications for policy-making. If you are baffled by the specialised jargon of economists and bankers and want to know more about the economic forces that subtly dictate your day-to-day existence, Everyone’s Guide to the South African Economy will put you in the picture. This is essential reading for every South African consumer and taxpayer. Economics, after all, is too important to be left to economists.
Download or read book The Evolving Structure of South Africa s Economy written by Seeraj Mohamed and published by African Books Collective. This book was released on 2024-01-23 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa still faces low economic growth and high unemployment, coupled with the persistent challenges of poverty and inequality. These exert pressure on South Africa to foster structural transformation that will facilitate a more inclusive and resilient economy. Authors apply multiple theoretical and empirical perspectives to take stock of the historical and contemporary structure of the South African economy, its evolving nature and possible future pathways. The explore how South Africa's structural transformation agenda is affected by the global context, and discuss debates on the extreme social impacts of globalised and financialised economic structures. Contributors offer technical and analytical discussions of the overlapping structural faultlines that produce uneven economic performance. They explain the changes and continuities of South Africa's economic structure, bound by an analytical thread that centres power relations and political settlements. Varied chapters explain how poor governance and corruption have slowed down structural reform. This has been further exacerbated by the inconsistent availability of energy and the deterioration of logistics. The book details the structural reforms and policy regimes necessary for increasing productive capacity in South Africa's agriculture, manufacturing, agro-processing. retail and services, energy and mining industries. It also reflects on the role that micro- and informal enterprises can play if afforded the necessary support. The technical details and analyses in the book highlight the need for a radical review of macroeconomic policy to reduce the country's chronic vulnerability to poverty and inequality.
Download or read book Aging in Sub Saharan Africa written by National Research Council and published by National Academies Press. This book was released on 2006-11-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In sub-Saharan Africa, older people make up a relatively small fraction of the total population and are supported primarily by family and other kinship networks. They have traditionally been viewed as repositories of information and wisdom, and are critical pillars of the community but as the HIV/AIDS pandemic destroys family systems, the elderly increasingly have to deal with the loss of their own support while absorbing the additional responsibilities of caring for their orphaned grandchildren. Aging in Sub-Saharan Africa explores ways to promote U.S. research interests and to augment the sub-Saharan governments' capacity to address the many challenges posed by population aging. Five major themes are explored in the book such as the need for a basic definition of "older person," the need for national governments to invest more in basic research and the coordination of data collection across countries, and the need for improved dialogue between local researchers and policy makers. This book makes three major recommendations: 1) the development of a research agenda 2) enhancing research opportunity and implementation and 3) the translation of research findings.
Download or read book Global Growth and Financial Spillovers and the South African Macro economy written by Mthuli Ncube and published by Springer. This book was released on 2016-04-29 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: To what extent is South Africa affected by G8 economies and BRIC growth shocks? This book identifies channels that amplify these shock effects, the relevance of third country transmission effects and the effects of the first and second rounds of US quantitative easing. The changing reactions of South African variables over time to financial shocks emanating from the US and selected countries in the Euro area, is presented. The book quantifies the effects of capital flow shocks, determines the counterfactuals of asset prices and economic growth variables, and compares the contribution of capital flows and domestic macro factors on asset prices. The effects of the exchange rate depreciation are contrasted to the decline in investment as key drivers of the trade balance. Stock market interdependence is determined amongst South African, Indian and Brazilian equities. The contributions of stock price returns and volatility on South African economic growth are contrasted. The authors construct a financial stress index for South Africa and determine how it amplifies shocks.
Download or read book The South African Economy written by D. Hobart Houghton and published by Cape Town ; New York : Oxford University Press. This book was released on 1976 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Geography and Economy in South Africa and its Neighbours written by Christian M. Rogerson and published by Routledge. This book was released on 2017-05-15 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dismantling of the apartheid regime in South Africa caused massive transformation in both geographical and economic terms, not only in this country but also in the region as a whole. As the post-apartheid government enters its second term, this captivating volume assesses its progress in unravelling the geography of apartheid, both in South Africa itself and in its relationships with other countries in Southern Africa and Africa. It also considers the ways in which South Africa, now that it is no longer a pariah state, has begun to position itself within the current global economy. Examining South Africa’s land and agriculture, mining and minerals, manufacturing, tourism, corporate finance, the labour market and transport, the volume discusses the challenges of balancing growth and redistribution, the extent and nature of progress, change and relationships within the regional and global economy. A compelling investigation into the economics of South Africa's neighbouring states in relation to their natural resources, colonialism and inter-relationships with themselves and with South Africa leads to a focus on the region as a whole and its relations with the global economy.
Download or read book The Economics of Apartheid written by Stephen R. Lewis and published by Council on Foreign Relations. This book was released on 1990 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the John Holmes Library collection.
Download or read book An Economic History of South Africa written by C. H. Feinstein and published by Cambridge University Press. This book was released on 2005-06-23 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines five hundred years of South African economic history.
Download or read book Everyone s Guide to the South African Economy written by André Roux and published by Penguin Random House South Africa. This book was released on 2022-12-01 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recession, inflation, interest rates, income tax, exchange rates, junk bonds … We are bombarded with these terms every day, but what do they actually mean? And how do they affect you? In this updated edition of Everyone’s Guide to the South African Economy, all these issues – and more – are addressed. The book clearly explains and evaluates a wide range of economic occurrences – from the budget and the rand/dollar exchange rate to the balance of payments and the role of the South African Reserve Bank. The book investigates the impact of the 2008/2009 global financial crisis and the COVID pandemic, assesses the state of the sub-Saharan African economy, and explores human development issues in South Africa and their implications for policy-making. If you are baffled by the specialised jargon of economists and bankers and want to know more about the economic forces that subtly dictate your day-to-day existence, Everyone’s Guide to the South African Economy will put you in the picture. This is essential reading for every South African consumer and taxpayer. Economics, after all, is too important to be left to economists.
Download or read book The South African Economy 1910 90 written by Stuart Jones and published by Palgrave Macmillan. This book was released on 1992 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: The South African Economy 1910-90 surveys the growth of the South African economy since 1910, when the four provinces came together to form the Union of South Africa. The theme of the book is that efficient economic organization made possible the remarkable growth of the South African economy, which over the years has had to contend with natural disasters, a backward but politically influential agricultural sector, a fixed gold price, the impact of two world wars, and finally the constraints on growth imposed by the apartheid policies since 1948. Gold fuelled the growth of the economy and enabled the government to subsidize agriculture in a way that was not usually possible for developing countries. It also led the South African government to pioneer many of the policies more commonly associated with the agricultural policies of the European Economic Community. Gold, however, has been a mixed blessing, and since 1973 the dramatic rise in its price has not been accompanied by a boom in the growth rate. In fact, it led to a marked deceleration in the rate of growth and triggered a burst of inflation that is still ravaging the South African economy. Since leaving the Commonwealth in 1961 South Africa has experienced an industrial revolution that has made her the powerhouse of Africa, but accompanying this industrial transformation there occurred a population explosion that increased the need for foreign investment just at the time when anti-apartheid campaigns were making this impossible. As a result, the 1980s saw a decline in white incomes and an increase in black unemployment.
Download or read book South African Economy and Policy 1990 2000 written by Stuart Jones and published by Manchester University Press. This book was released on 2010-10-15 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990s were the decade of transition from white rule to black rule in South Africa. In the political sphere the transition was dramatic. In the economic sphere less so, yet the effects were and are likely to be far more far reaching. It is the economic impacts which are likely to determine the future of the country. With the exception of the diamond-rich Botswana, all the countries of Africa which underwent the transition from white to black rule experienced economic decline. Is this to be the fate of South Africa? How was and is South Africa’s historical role as the world’s leading gold producer affected by the transition? Why did some economic policies succeed and others fail? This book, by leading authorities in the field, attempts to answer these and other related questions.
