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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.
This book highlights the key issues, opportunities and challenges facing African firms, industries, cities and nations in their quest to compete successfully in the global economy. Exploring a topic which has grown in importance as Africa faces a period of subdued economic development, this edited collection takes a unique multi-disciplinary, multi-industry and multi-country approach. The authors provide insights into a broad range of issues, including competitiveness measurement and evaluation, sectoral competitiveness of declining and emerging industries, threats of the ‘Dutch Disease,’ and talent competitiveness. This timely book offers a response to the urgent need for the diversification of economies and the advancement of manufacturing in Africa, appealing to scholars of international business and economics.
History is a powerful aid to the understanding of the present, and those who are concerned with the escalating crisis in South Africa will find this an invaluable source book. This is the story of the evolution of a society in which race became the dominant characteristic, the primary determinant of status, wealth, and power. Cultural chauvinism of the first European colonists – primarily the Dutch – merged with economic and demographic developments to create a society in which whites relegated all blacks – free blacks, Africans, imported slaves – to a systematic pattern of subordination and oppression that foreshadowed the apartheid of the twentieth century. From the beginning of the nineteenth century the new empire-builders, the British, reinforced the racial order. In the next century and a half the industrialized South Africa would become firmly integrated into the world economy. Published originally in South Africa in 1979 and updated and expanded now, a decade later, this book by twelve South African, British, Canadian, Dutch, and American scholars is the most comprehensive history of the early years of that troubled nation. The authors put South Africa in the comparative context of other colonial systems. Their social, political, and economic history is rich with empirical data and rests on a solid base of archival research. The story they tell is a complex drama of a racial structure that has resisted hostile impulses from without and rebellion from within.
The revival of economic growth in Sub-Saharan Africa is all the more welcome for having followed one of the worst economic disasters—a quarter century of economic malaise for most of the region—since the industrial revolution. Six of the world's fastest-growing economies in the first decade of this century were African. Yet only in Ethiopia and Rwanda was growth not based on resources and the rising price of oil. Deindustrialization has yet to be reversed, and progress toward creating a modern economy remains limited. This book explores the vital role that active government policies can play in transforming African economies. Such policies pertain not just to industry. They traverse all economic sectors, including finance, information technology, and agriculture. These packages of learning, industrial, and technology (LIT) policies aim to bring vigorous and lasting growth to the region. This collection features case studies of LIT policies in action in many parts of the world, examining their risks and rewards and what they mean for Sub-Saharan Africa.
How Immigrants Contribute to South Africa’s Economy is the result of a project carried out by the OECD Development Centre and the International Labour Organization, with support from the European Union.
This volume chronicles the volatile history of the resurgence of South Africa, once an international pariah, as a respected and influential African state. Once an international pariah, South Africa has emerged as a respected and influential African state, projecting its economic and political power across the continent. South Africa and the World Economy: Remaking Race, State, and Region chronicles the volatile history of this resurgence, from the nation's rise as an industrialized, white state and subsequent decline as a newly underdeveloped country to its current standing as a leading member of theGlobal South. Departing from much of the latest scholarship, which examines South Africa as a discrete national case, this volume places the country in the global social system, analyzing its relationships with the colonial powersand white settlers of the early twentieth century, the costs of the neoliberal alliances with the North, and the more recent challenges from the East. This approach offers a bold reinterpretation of South Africa's developmental successes and failures over the last century -- as well as clear yet contentious lessons for the present. William G. Martin is chair of the Department of Sociology at Binghamton University, coeditor of From Toussaintto Tupac: The Black International since the Age of Revolution, and coauthor of Making Waves: Worldwide Social Movements, 1760-2005.
The book, made up of three parts, covers a wide spectrum of political economy issues on post-apartheid South Africa. Although the text is mainly descriptive, to explain various areas of the political economy of post-apartheid South Africa, the first and the last parts provide illuminating insights on the kind of society that is emerging during the twenty-one years of democracy in the country. The book discusses important aspects of the political history of apartheid South Africa and the evolution of post-apartheid society, including an important recap of the history of southern Africa before colonialism. The text is a comprehensive description of numerous political economy phenomena since South Africa gained its political independence and covers some important themes that have not been discussed in detail in other publications on post-apartheid South Africa. The book also updates earlier work of the author on policy and law making, land and agriculture, education and training as well as on poverty and inequality in post-apartheid South Africa thereby providing a wide-ranging overview of the socio-economic development approaches followed by the successive post-apartheid administrations. Interestingly, three chapters focus on various aspects of the post-apartheid South African economy: economic policies, economic empowerment and industrial development. Through the lens of the notion of democratic developmental state and taking apartheid colonialism as a point of departure, the book suggests that, so far, post-apartheid South Africa has mixed socio-economic progress. The author’s extensive experience in the South African government ensures that the book has policy relevance while it is also theoretically sound. The text is useful for anyone who wants to understand the totality of the policies and legislation as well as the political economy interventions pursued since 1994 by the South African Government.
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.
This book provides a broad and in-depth introduction to the geopolitical, economic and trade changes wrought with the increasing influence of the countries of the Global South in international affairs. Since the introduction of the United Nations General Assembly's New International Economic Order, the countries of the Global South, particularly China, India, Brazil, Saudi Arabia, South Africa and Qatar, made an indelible impact upon the world's economic architecture.