Elites and economic policy in South Africa’s transition and beyond

Firoz Khan and Seeraj Mohamed

International Review of Applied Economics, 2023, vol. 37, issue 6, 722-744

Abstract: We build on and critique previous literature on economic policy configuration during the transition from apartheid to democracy (1990 to 1994) in South Africa (SA). The contribution of this article, and our critique of much influential literature on economic policy formation during the transition, is that the powerful corporate elites were not just stakeholders in negotiations between the apartheid government, the African National Congress (ANC) and other parties. We adopt a structural approach that highlights the crucial role of corporate elites and their active manoeuvring to manage and control economic policymaking during the transition to ensure continuity of the ostensibly free market economic policies they designed during the late-apartheid period. The complicity of the economic leadership of the ANC in squashing progressive economic transformation horizons is directly connected to the survival and institutionalisation in the present of late-apartheid neoliberalised economic policy. Ultimately, the corporate elite’s exertion of their state-expanded powers, their co-option of selected members of the black political elite and the ANC’s economic policy self-emasculation has further strengthened multinational corporations’ domination of SA’s markets, which were already highly concentrated, and limited present and future possibilities for inclusive development of the SA economy.

Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/02692171.2023.2268558 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:irapec:v:37:y:2023:i:6:p:722-744

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CIRA20

DOI: 10.1080/02692171.2023.2268558

Access Statistics for this article

International Review of Applied Economics is currently edited by Professor Malcolm Sawyer

More articles in International Review of Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().