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Investment in South Africa - a comment on recent contributions

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  • Simon Roberts

Abstract

This article questions the interpretation of investment made by Fedderke et al. in the October 2001 issue of Development Southern Africa, in particular the conclusion that the higher investment rates of manufacturing in the 1990s are associated with the reduction in state intervention. Rather than improved manufacturing investment, the striking feature of the 1990s is the low level of investment by the government and parastatals. After making a brief review of investment performance over the past decade, manufacturing investment at the sectoral level is assessed, highlighting the very large investments in heavy industries. It is state support in the form of development finance from the Industrial Development Corporation that underlies these patterns, and not the withdrawal of the state as argued by Fedderke et al.

Suggested Citation

  • Simon Roberts, 2004. "Investment in South Africa - a comment on recent contributions," Development Southern Africa, Taylor & Francis Journals, vol. 21(4), pages 743-756.
    • Handle: RePEc:taf:deveza:v:21:y:2004:i:4:p:743-756
    DOI: 10.1080/0376835042000288897
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    1. World Bank, 2001. "World Development Report 2000/2001," World Bank Publications - Books, The World Bank Group, number 11856.
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    Cited by:

    1. Leonce Ndikumana, 2008. "Can macroeconomic policy stimulate private investment in South Africa? New insights from aggregate and manufacturing sector-level evidence," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(7), pages 869-887.
    2. Johannes Machaka & Simon Roberts, 2003. "The Dti'S New‘Integrated Manufacturing Strategy?’," South African Journal of Economics, Economic Society of South Africa, vol. 71(4), pages 679-704, December.

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