Politics and Economic Policymaking in South Africa since 1994

2021 ◽  
pp. 65-90
Author(s):  
Alan Hirsch ◽  
Brian Levy ◽  
Musa Nxele
Keyword(s):  
South Africa ◽  
Black People ◽  
Global Financial Crisis ◽  
Slow Growth ◽  
Economic Transformation ◽  
Policy Uncertainty ◽  
The Poor ◽  
The Global Financial Crisis ◽  
Growth Economic ◽  
Political Settlement

Economic policy in South Africa since 1994 has confronted the imperative to include middle class, working class and poor black people more fully into the economy in circumstances which circumscribe the scope for constructive negotiation and lasting agreement. The new regime of 1994 sought a political settlement which allowed stronger growth, economic transformation of the elite and economic inclusion of the poor. After meeting with some success, the combination of the global financial crisis and new political leadership led to policy uncertainty, increasing corruption and some deterioration of state capacity, which resulted in exceptionally slow growth. The puzzle this chapter engages with is why the struggle over rents has stood in the way of a mutually beneficial deal.

scholarly journals Corporate governance and performance of listed commercial banks in South Africa

2014 ◽  
Vol 11 (2) ◽  
pp. 677-687
Author(s):  
Sam Ngwenya
Keyword(s):  
South Africa ◽  
Corporate Governance ◽  
Commercial Banks ◽  
Global Financial Crisis ◽  
The United States ◽  
Executive Directors ◽  
Governance Indicators ◽  
And Performance ◽  
The Global Financial Crisis ◽  
The Relationship

The global financial crisis of 2008 that resulted in the collapse of many financial institutions in the United States (US) and Europe have resulted in debates over the failures of corporate governance structures to properly protect investors. The main objective of the study was to determine the relationship between corporate governance and performance of listed commercial banks in South Africa. The results of the study indicated a statistically positive significant relationship between board size, proportion of non-independent and non-executive directors and bank performance. The results of the rest of the corporate governance indicators are mixed when using different performance measurement variables.

Black Economic Empowerment, ICT, and Preferential Public Procurement in South Africa

2013 ◽  
pp. 1164-1185
Author(s):  
Karunanidhi Reddy ◽  
Renitha Rampersad
Keyword(s):  
South Africa ◽  
Black People ◽  
Public Procurement ◽  
Economic Transformation ◽  
Economic Empowerment ◽  
Black Economic ◽  
Black Economic Empowerment ◽  
Constitutional Right ◽  
The Government ◽  
Procurement System

Broad-based black economic empowerment has been a central part of the South African government’s economic transformation strategy. The main purpose of BEE is to increase the number of black people that manage, own, and control the country’s economy, and as a result, to reduce income inequalities and to contribute to economic transformation in South Africa. During apartheid in South Africa, the government procurement system favoured large, established businesses and made it difficult for newly established businesses to participate in the procurement system. This chapter gives an overview of the Black Economic Empowerment policy as a means to achieve socio-economic transformation in South Africa by providing preferences for Historically Disadvantaged Individuals (HDIs) and small businesses, when making procurement decisions. It also examines how procurement is used as a policy tool by government while simultaneously ensuring that it does not contradict the constitutional right to equality. The chapter also explores the implications of the Preferential Public Procurement Framework Act (Act 5 of 2000) and the latest procurement regulations. Finally, it discusses the use of ICT and the vital role it plays in preferential procurement in South Africa.

scholarly journals Regulating Private Higher Education in South Africa

2015 ◽  
Author(s):  
Chika Sehoole
Keyword(s):  
Higher Education ◽  
South Africa ◽  
Financial Crises ◽  
Global Financial Crisis ◽  
Private Higher Education ◽  
Private Companies ◽  
The Public ◽  
The Government ◽  
Laws And Policies ◽  
The Global Financial Crisis

This article makes case of how South Africa has been able to use its laws and policies to achieve its objectives of regulating private higher education. This happened in the context of an ascendancy of neo-liberal policies which favoured deregulation and the rolling back of the state. Through these policies the government was able to protect the public even during the global financial crisis as it had registered credible and financially sound institutions which could weather off the financial crises which affected many private companies worldwide.

scholarly journals Which Way Now? Economic Policy after a Decade of Upheaval: A CAGE Policy Report

2019 ◽  
Author(s):  
Charlotte Cavaille ◽  
Federica Liberini ◽  
Michela Redoano ◽  
Anandi Mani ◽  
Vera E. Troeger ◽  
...  
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Real Income ◽  
Legal Framework ◽  
Policy Uncertainty ◽  
Social Challenges ◽  
Related Risk ◽  
The Government ◽  
The Global Financial Crisis ◽  
The Uk

Most, if not all advanced economies have suffered gravely from the 2008 global financial crisis. Growth, productivity, real income and consumption have plunged and inequality, and in some cases poverty, spiked. Some countries, like Germany and Australia, were better able to cope with the consequences but austerity has taken its toll even on the strongest economies. The UK is no exception and the more recent period of economic recovery might be halted or even reversed by the political, economic, and policy uncertainty created by the Brexit referendum. This uncertainty related risk to growth could be even greater if the UK leaves the economic and legal framework provided by the EU. This CAGE policy report offers proposals from different perspectives to answer the overarching question: What is the role of a government in a modern economy after the global financial crisis and the Brexit vote? We report on economic and social challenges in the UK and discuss potential policy responses for the government to consider. Foreword by: Lord O’Donnell of Clapham.

Securities and Capital Markets Regulation in South Africa

2019 ◽  
Vol 3 (1) ◽  
pp. 1-99
Author(s):  
C. King Chanetsa
Keyword(s):  
South Africa ◽  
Capital Markets ◽  
Value Chain ◽  
Global Financial Crisis ◽  
International Standards ◽  
Securities Regulation ◽  
Reform Process ◽  
Reform Agenda ◽  
The World ◽  
The Global Financial Crisis

AbstractAn effective securities and capital markets industry has existed in South Africa for over 120 years. The regulatory authorities have been alive to globally competitive pressures for inward investment and have endeavoured to implement a conducive environment therefore in compliance with international standards. As recently as 2015, South Africa was considered the best regulator of securities in the world. The effects of the global financial crisis (GFC) were keenly observed. The fall out from the GFC contained lessons for all markets, but not to the same extent. Commentators may therefore regard aspects of the South African reform agenda as replicative of initiatives in other jurisdictions and, consequently, uncritical in parts. In light of the fall to forty sixth place in the world in securities regulation ranking and some uncertainty in respect of the extent and shape of the reform process, this opus reviews activities in South Africa along the busy securities and capital markets value chain, and considers the continuing and emerging regulatory and supervisory framework.

Industrial Policy in South Africa

2021 ◽  
pp. 509-530
Author(s):  
Anthony Black
Keyword(s):  
South Africa ◽  
Industrial Policy ◽  
Industrial Development ◽  
Global Financial Crisis ◽  
Policy Support ◽  
Import Penetration ◽  
Wide Range ◽  
Development Policies ◽  
The Subject ◽  
The Global Financial Crisis

Abstract: Manufacturing in South Africa has been the subject of strong industrial policy support. Since 1994, the sector has undergone major structural shifts but the sector has performed poorly. Trade liberalization, which started to take effect before 1994, led to rapid import penetration across a wide range of sectors. For the most part the export response was disappointing. From 2007, there has been a shift to more intensive sectoral industrial policy. But this coincided with a number of very negative developments including the global financial crisis as well as serious infrastructure constraints. The specifics of industrial policy are examined in heavy industry, the automotive sector, and light manufacturing as well as in the outcomes of regional industrial development policies. The chapter concludes that South Africa needs to be on a more labour-absorbing growth path which requires appropriate industrial as well as other policies.

scholarly journals Economic News Releases and Financial Markets in South Africa

Economies ◽  
2019 ◽  
Vol 7 (4) ◽  
pp. 112
Author(s):  
Konstantinos Gkillas ◽  
Dimitrios Vortelinos ◽  
Christos Floros ◽  
Athanasios Tsagkanos
Keyword(s):  
South Africa ◽  
Foreign Exchange ◽  
Global Financial Crisis ◽  
Foreign Exchange Markets ◽  
Economic News ◽  
News Releases ◽  
Before And After ◽  
Exchange Markets ◽  
The Global Financial Crisis ◽  
The Impact

We examine the impact of economic news releases on returns, volatility and jumps of the stock and foreign exchange markets of South Africa. We also assess the impact of macroeconomic determinants. The dataset range is fifteen years covering the period from January, 2000 to December, 2014. Results are robust to different sub-periods before and after the global financial crisis of 2008. Volatility is estimated with the use of the median realized variance estimator. Jumps are also detected. The impact of the announcements is assessed building using regression techniques. Returns, volatility and jumps of both stock and foreign exchange markets are significantly explained nationally by macroeconomic fundamentals and economic news releases.

Sign in / Sign up

Export Citation Format

Share Document