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The post-apartheid economy

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  • Neva Seidman Makgetla

Abstract

South Africa's post-apartheid economy has been characterised by low growth and investment, and a rise in unemployment (at 30%, higher than any other middle income country). Government economic policy has stressed the encouragement of investment through deregulation, privatisation and fiscal restraint. However, the failure of this strategy to promote growth and create jobs points to the need for a more interventionist strategy, one in which government must do more to stimulate equitable growth. This proposition is highly contested. Nonetheless, in response to the crisis within the economy, the government has adopted limited reforms involving increased spending on basic social services and housing, greater emphasis on job creation and equity, a renewed stress on planning and coordination and greater support for cooperatives. Yet these new initiatives do not constitute a systematic plan for transforming the economy and more integrated policies are required to overcome dualism and stimulate job-creating growth. My thanks to Tanya van Meelis for comments.

Suggested Citation

  • Neva Seidman Makgetla, 2004. "The post-apartheid economy," Review of African Political Economy, Taylor & Francis Journals, vol. 31(100), pages 263-281, June.
    • Handle: RePEc:taf:revape:v:31:y:2004:i:100:p:263-281
    DOI: 10.1080/0305624042000262284
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    Cited by:

    1. Parker, Gail Denise & Costa, King, 2021. "Mapping The Emergence Of Local Economic Development In South Africa Since The Dawn Of Democracy," AfricArxiv hcxk4, Center for Open Science.
    2. Vishwas Satgar, 2012. "Beyond Marikana: The Post-Apartheid South African State," Africa Spectrum, Institute of African Affairs, GIGA German Institute of Global and Area Studies, Hamburg, vol. 47(2-3), pages 33-62.
    3. Jacqueline Mosomi, 2019. "Distributional changes in the gender wage gap in the post-apartheid South African labour market," WIDER Working Paper Series wp-2019-17, World Institute for Development Economic Research (UNU-WIDER).

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