Macro Economic Determinants of Economic Growth In South Africa

Dorah Dubihlela, Phakama Senzangakhona and Nomsindisi Dudumashe

Journal of Academic Finance, 2025

Abstract: Purpose: To investigate the determinants of economic growth in South Africa amidst ongoing macroeconomic challenges. Method: Utilized yearly time series data. Assessed data stationarity using the Phillips-Perron and Augmented Dickey-Fuller tests. Employed an Autoregressive Distributed Lag (ARDL) model to analyze short- and long-run relationships. Applied Granger causality to explore causal relationships among the variables. Results: In the long run, financial development, capital stock, and employment are significant determinants of economic growth. In the short run, all variables examined were significant. Originality/Relevance: The study addresses critical macroeconomic challenges in South Africa, providing insights that can inform policies aimed at stimulating economic growth through employment, investment in capital, and financial development.

Keywords: : South Africa; economic growth; capital stock; financial development; employment; inflation; Autoregressive Distributed Lag (ARDL). (search for similar items in EconPapers)
JEL-codes: G3 M1 N8 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:jaf:journl:v::y:2025:i::n:754

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