The Oxford Companion to the Economics of South Africa

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.

Auteur

The editors are four global leaders in development economics and in African and South African economic analysis and policy, who between them have held or hold the following positions: Chief Economist, African Development Bank; Deputy Director General in the Presidency of the Republic of South Africa; Chief Director, Department of Trade and Industry, South Africa; Presidential Economic Advisor, South Africa; G20 Sherpa, South Africa; Co-Chair G20 Development Working Group; Chief Economist for Africa, The World Bank; Professor of Economics, University of Cape Town; Dean of Commerce, Law and Management, University of Witwatersrand; Professor of Economics, Cornell University.

Contenu

Haroon Bhorat, Alan Hirsch, Ravi Kanbur, and Mthuli Ncube: Overview: Economic Policy in South Africa: Past, Present, and Future; Part 1: The Economics of Post-Apartheid South Africa; 1 Trevor Manuel: Twenty Years of Economic Policy-Making: Putting People First; 2 Johannes Fedderke: South Africa's Growth Performance; 3 Ben Smit: Macroeconomic Scenarios for South Africa: 2013-2025; 4 Ruchir Sharma: The Liberation Dividend; 5 Ben Fine, Samantha Ashman, Vishnu Padayachee, and John Sender: The Political Economy of Restructuring in South Africa; 6 Sandeep Mahajan: South Africa's Suboptimal Political Economy Equilibrium; 7 Martin Wittenberg: Data Issues in South Africa; Part 2: South Africa and the World Economy; 8 Lawrence Edwards: Trade Policy Reform in South Africa; 9 Anthony Black: The Evolution and Impact of Foreign Direct Investment into South Africa since 1994; 10 Brendan Vickers: South Africa's Economic Relations with Africa; 11 Brian Kahn and Shaun de Jager: South Africa's Exchange Rate Policy and Exchange Rate Developments; Part 3: Macroeconomics and Fiscal Policy; 12 Kenneth Creamer: South Africa's Fiscal Framework; 13 Tania Ajam: Intergovernmental Fiscal Relations in South Africa; 14 Nichola Viegi: (Dis)Saving in South Africa; 15 Janine Aron and John Muellbauer: Inflation in South Africa; 16 Stan de Plessis: Monetary Policy in South Africa since 1994; 17 Vishnu Padayachee: Central Banking After the Global Financial Crisis: The South African Case; Part 4: Finance, Industry, and Infrastructure; 18 Shakill Hassan: Capital Markets; 19 Penny Hawkins: The Visible Hand: Shaping Stability and Inclusion in the South African Financial Sector; 20 Seeraj Mohamed: Banking and Credit Markets; 21 Simon Roberts: Industrialisation Strategy; 22 Andreas Worgotter: Industrial Structure and Competition Policy; 23 Neil Rankin: Investment Climate; 24 Brian Levy: Commanding Heights: The Governance of State-Owned Enterprises in Contemporary South Africa; 25 Ethel Teljeur: Economic Regulation of the Energy Sector; 26 David Kaplan: Technology and Innovation: Performance, Policy, and Prospects; 27 Anton Eberhard: Electricity Supply; Part 5: Labour and Employment; 28 Morne Oosthuizen: Capturing South Africa's Demographic Dividend; 29 Cecil Mlatsheni and Murray Leibbrandt: Unemployment in South Africa; 30 Gary Fields: Segmented Labor Markets in South Africa; 31 Paul Benjamin: Labour Law; 32 Kate Philip: Public Employment in South Africa; 33 James Levinsohn: Youth Unemployment Policy; 34 Imraan Valodia: Informality in South Africa; 35 Francis Wilson: South Africa's Migrant Labour System; Part 6: Poverty and Inequality in South Africa; 36 Vusi Gumede: Poverty and Poverty Lines in South Africa; 37 Murray Leibbrandt, Arden Finn, and Vimal Ranchhod: Post-apartheid Poverty and Inequality Trends; 38 Julian May: Income Mobility in South Africa; 39 Dorrit Posel: Gender Inequality; Part 7: Post-Apartheid Social Policy; 40 Claudia Manning and Nokuzola Jenness: Origins, Trends, and Debates in Black Economic Empowerment; 41 Anne Case and Cally Ardington: Health Challenges Past and Future; 42 Nicoli Nattrass: The Macro Economics of AIDS in South Africa; 43 Linda Richter and Chris Desmond: Child Development; 44 David Lam and Nicola Branson: Education in South Africa since 1994; 45 Ingrid Woolard and Katherine Hall: Social Safety Nets; 46 Francie Lund: Social Security and Social Grants; 47 Ivan Turok: Urbanization; 48 David Savage: Public Financing for Housing; Part 8 Land, Agriculture, and Environment; 49 Ben Cousins: Land and Land Reform in South Africa; 50 Rolfe Eberhard: The Politics and Economics of Water in South Africa, 1994 to 2013; 51 Mohammad Karaan and Nick Vink: Agriculture and Rural Development in the Post-Apartheid Era; 52 Tony Leiman: Environmental Policy and the State in Post-Apartheid South Africa