Chapter

Accounting for South Africa's Growth Revival after 1994

Stan Du Plessis and Ben Smit

in South African Economic Policy under Democracy

Published in print March 2009 | ISBN: 9780199551460
Published online May 2009 | e-ISBN: 9780191720376 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199551460.003.0002
Accounting for South Africa's Growth Revival after 1994

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This chapter describes, identifies underlying factors, and seeks explanations for South Africa's economic recovery since 1994. It begins with a description of the trends in aggregate and sectoral growth, highlighting areas responsible for the growth revival. It evaluates the initial conditions for an economic recovery using local and comparable international data, and growth accounting methods are applied to distinguish the relative contributions of capital, labour, and total factor productivity to the growth revival at the aggregate, sectoral, and sub-sectoral (for manufacturing) levels. The potential causes for the relative contribution of capital, labour, and productivity are discussed with reference to South African and international literature.

Keywords: South Africa; economy recovery; economic growth; capital; labour; productivity

Chapter.  12495 words.  Illustrated.

Subjects: Public Economics

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