Economic Growth and Political Change: the South African Case

1981 ◽  
Vol 19 (4) ◽  
pp. 667-704 ◽  
Author(s):  
Stanley B. Greenberg
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Capital Accumulation ◽  
Political Change ◽  
Capital Requirements ◽  
Social Position ◽  
Class Formation ◽  
Living Standard ◽  
Business Enterprise ◽  
Racial Lines

People of quite diverse social position and perspective have turned to economic growth as a source of political change in South Africa. Contained within the concept of growth, they maintain, are processes — capital accumulation and class formation, business enterprise and markets, changing skill and capital requirements – that, at the very least, allow some blacks a more secure and higher living standard, that may bring greater equality between the races, or more profoundly, confound traditional racial lines and privileges of quite diverse social position and perspective have turned to economic growth as a source of political change in South Africa. Contained within the concept of growth, they maintain, are processes — capital accumulation and class formation, business enterprise and markets, changing skill and capital requirements – that, at the very least, allow some blacks a more secure and higher living standard, that may bring greater equality between the races, or more profoundly, confound traditional racial lines and privileges. Indeed, some argue that growth undermines the foundations of the racial state. Many of those who posit a relationship between economics and politics, take the next logical step: supporting actions, including foreign investment, that foster economic growth and, presumably, political change in South Africa.

South Africa: Economic Growth and Political Change

1975 ◽  
Vol 8 (3) ◽  
pp. 496
Author(s):  
Z.A. Konczacki ◽  
Adrian Leftwich
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Political Change

South Africa: Economic Growth and Political Change

1976 ◽  
Vol 52 (4) ◽  
pp. 663-664
Author(s):  
Merle Lipton
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Political Change

scholarly journals THE DETERMINANTS OF BANK CREDIT GROWTH AND CREDIT AGGREGATE BEHAVIOR DURING ALTERNATE BUSINESS CYCLES IN SOUTH AFRICA

2016 ◽  
Vol 1 (1) ◽  
pp. 18-31
Author(s):  
Dr. Goodman Chakanyuka
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Business Cycles ◽  
Quantitative Research ◽  
Bank Lending ◽  
Capital Requirements ◽  
Bank Credit ◽  
Bank Competition ◽  
Structured Interviews ◽  
Credit Growth

Purpose: The purpose of this study was to Analyze of the Relationship between Business Cycles and Bank Credit Extension: Evidence from South Africa. The study sought establish the determinants of bank credit growth in South Africa and how the different credit aggregates behave during alternate business cyclesMethodology: This study adopted qualitative and quantitative research. The qualitative research involves structured interviews with influential or well informed people on the subject matter. The study is used to understand the key determinants of bank credit in South Africa and to appreciate how each of the credit aggregates behaves during alternate business cycles. The qualitative results are used to formulate questions of the structured survey questionnaire. The ANOVA and Pearman’s product correlation analysis techniques are used to assess relationship between variables.Results: Results revealed that, key determinants of commercial bank credit in South Africa as economic growth, collateral value, bank competition, money supply, deposit liabilities, capital requirements, bank lending rates and inflation. The quantitative results show that there is direct and positive relationship between bank lending behaviour and credit aggregates namely economic growth, collateral value, bank competition and money supply.Unique contribution to theory, practice and policy: It proposes practical policy prescriptions to address challenges currently facing South Africa. The other major contribution of this study is that it shall open new avenues for further research on determinants of bank credit growth in South Africa and how the different credit aggregates behave during alternate business cycles.

scholarly journals Life insurance, financial development and economic growth in South Africa

2014 ◽  
Vol 4 (3) ◽  
pp. 7-15 ◽  
Author(s):  
Athenia Bongani Sibindi
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Financial Development ◽  
Life Insurance ◽  
Capital Requirements ◽  
Insurance Sector ◽  
Insurance Density ◽  
Per Capita ◽  
Insurance Development ◽  
Growth Hypothesis

The life insurance sector may contribute to economic growth by its very mechanism of savings mobilisation and thereby performing an intermediation role in the economy. This ensures that capital is provided to deficient units who are in need of capital to finance their working capital requirements and invest in technology thereby resulting in an increase in output. In this way, it could be argued that life insurance development spurs financial development. In this article we investigate the causal relationship between the life insurance sector, financial development and economic growth in South Africa for the period 1990 to 2012. We make use of life insurance density as the proxy for life insurance development, real per capita growth domestic product as the proxy for economic growth and real broad money per capita as the proxy for financial development. We test for cointegration amongst the variables by applying the Johansen procedure and then proceed to test for Granger causality based on the vector error correction model (VECM). Our results confirm the existence of at least one cointegrating relationship amongst the variables. The results indicate that the direction of causality runs from the economy to the life insurance sector which is consistent with the “demand-following” insurance-growth hypothesis. There is also evidence of causality running from the economy to financial development which is consistent with the “demand following” finance-growth hypothesis. The results also reveal that life insurance complements economic growth in bringing about financial development further lending credence to the “complementarity” hypothesis.

South Africa: Economic Growth and Political Change

1976 ◽  
Vol 2 ◽  
pp. 120
Author(s):  
James H. Cobbe ◽  
Adrian Leftwich
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Political Change

Human Capital Accumulation and Resource Abundance

2011 ◽  
pp. 66-77
Author(s):  
O. Vasilieva
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Relevant Literature ◽  
Harmful Effect ◽  
Human Capital Accumulation ◽  
Resource Abundance ◽  
Empirical Results ◽  
Theoretical Predictions ◽  
Crowd Out

Does resource abundance positively affect human capital accumulation? Or, alternatively, does it «crowd out» the human capital leading to the deterioration of economic growth? The paper gives an overview of the relevant literature and discusses both theoretical and empirical results obtained regarding the connection between human capital accumulation and resource abundance. It shows that despite some theoretical predictions about the harmful effect of resource abundance on human capital accumulation, unambiguous evidence of such impact that would be robust with respect to the change of resource abundance parameter has not been obtained yet.

Conclusion

2017 ◽  
Author(s):  
Roberts Cynthia ◽  
Leslie Armijo ◽  
Saori Katada
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Bargaining Power ◽  
Global Finance ◽  
Middle Income ◽  
Outside Options ◽  
Power Shift ◽  
Global Power ◽  
Common Interests ◽  
Sustainable Economic Growth

The chapter analyzes the prospects for continued BRICS collective financial statecraft. Contrary to initial expectations, the BRICS (Brazil, Russia, India, China, and South Africa) have hung together by identifying common aversions and pursuing common interests within the existing international order. Their future depends not only on their bargaining power, but also on their ability to overcome domestic impediments to the sustainable economic growth that provides the basis for their international positions. To continue successfully with collective financial statecraft, the members must tackle the so-called middle-income trap, as well as their preferences for informal rules originating from their own institutional weaknesses or regime preferences. This study shows that, in the context of a global power shift, the BRICS club has operated to protect the member countries’ respective policy autonomy, while also advancing their joint voice in global governance. Recently, the BRICS have made concrete institutional gains, giving them expanded outside options to achieve specific objectives in global finance.

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