Chapter

Growth, Capital Accumulation, and Economic Reform in South Africa

Carolyn. Jenkins

in Resource Abundance and Economic Development

Published in print October 2004 | ISBN: 9780199275786
Published online April 2005 | e-ISBN: 9780191602160 | DOI: http://dx.doi.org/10.1093/0199275785.003.0015

Series: WIDER Studies in Development Economics

Growth, Capital Accumulation, and Economic Reform in South Africa

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This chapter argues that South Africa has failed to establish the conditions necessary to reach its growth potential despite the commencement of reform in the 1970s. Part of this is because reform was undertaken during conditions of increasing isolation under sanctions, and increasing domestic uncertainty. Moreover, racial segregation in education and labour markets, and increasing political polarisation led to a decline in social capital. The new government is capable of addressing these problems although progress has been slow.

Keywords: South Africa; economic reform; resource-abundant countries

Chapter.  8470 words.  Illustrated.

Subjects: Economic Development and Growth

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