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Corporate performance and military production in South Africa

Author

Listed:
  • Peter Batchelor
  • Paul Dunne
  • Sepideh Parsa

Abstract

With the end of the Cold War and apartheid, a process of demilitarisation and dramatic cuts in military spending has marked the transition to democracy in South Africa. Between 1989 and 1997 the South African defence budget was cut by more than 50% in real terms, with most of the cuts coming from the procurement budget, which was cut by nearly 70% in real terms during the same period. These cuts have had a significant impact on the country's defence industrial base. However, there has been surprisingly little research on the changes to defence companies that have taken place since the late 1980s. This paper makes a start at rectifying that deficiency by providing an analysis of the restructuring of the major defence-dependent companies over the period 1988-97. It uses a number of financial ratios and other measures of corporate performance to compare their experience with non-defence companies in the rest of the South African economy during the same period.

Suggested Citation

  • Peter Batchelor & Paul Dunne & Sepideh Parsa, 2000. "Corporate performance and military production in South Africa," Defence and Peace Economics, Taylor & Francis Journals, vol. 11(4), pages 615-641.
    • Handle: RePEc:taf:defpea:v:11:y:2000:i:4:p:615-641
    DOI: 10.1080/10430710008404970
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    Cited by:

    1. Ming Zhong & Tsangyao Chang & Samrat Goswami & Rangan Gupta & Tien-Wei Lou, 2017. "The nexus between military expenditures and economic growth in the BRICS and the US: an empirical note," Defence and Peace Economics, Taylor & Francis Journals, vol. 28(5), pages 609-620, September.

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