Challenges and Complexities of the South African Economy

Fiona Tregenna (), Arabo Ewinyu (), Arkebe Oqubay () and Imraan Valodia ()
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Fiona Tregenna: DSI/NRF South African Research Chair in Industrial Development, College of Economics and Business, University of Johannesburg.
Arabo Ewinyu: Public Economy, Southern Centre for Inequality Studies, University of the Witwatersrand.
Arkebe Oqubay: Senior Minister and Special Adviser to the Prime Minister of Ethiopia.
Imraan Valodia: Faculty of Commerce, Law and Management, University of the Witwatersrand.

No 202102, SARChI-ID Working Papers from SARChI Industrial Development (SARChI-ID), University of Johannesburg (UJ)

Abstract: This paper discusses key characteristics and core challenges of the South African economy in the post-Apartheid era. South Africa shares some commonalities with other African and middle-income economies, yet has a unique history and some distinctive economic features. South Africa’s economic complexities and challenges are discussed here with reference to six comparator countries. We examine South Africa’s growth path, considering the low rates of economic growth as well as the lack of structural transformation and the unsustainable and non-inclusive nature of this growth. The ‘triple challenges’ of poverty, inequality and employment are both a manifestation of the nature of this growth path and a constraint on overall growth. This is also briefly evaluated in the context of the political economy and policy context of growth and development in South Africa. The paper reviews South African economic data, with a focus on microeconomic survey data.

Keywords: growth; poverty; inequality; unemployment; inclusive growth; sustainable growth; structural transformation; economic development; South Africa (search for similar items in EconPapers)
JEL-codes: E24 I30 O11 O14 O40 O55 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2021-05, Revised 2021-05
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