Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa

Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa

Author: Mr.Ashok Bhundia

Publisher: International Monetary Fund

Published: 2003-09-01

Total Pages: 22

ISBN-13: 1451858973

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This paper provides estimates of potential output growth in post-apartheid South Africa using both time trend techniques and a production function approach which indicates a potential growth rate of around 3 percent. The implied output gap provides statistically significant information for predicting inflation and could thus provide valuable input for formulating macroeconomic policy. Growth accounting and regression analysis suggest that an increase in trend GDP growth after the end of apartheid in 1994 is attributable to higher TFP growth driven by trade liberalization and greater private sector participation.


Book Synopsis Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa by : Mr.Ashok Bhundia

Download or read book Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa written by Mr.Ashok Bhundia and published by International Monetary Fund. This book was released on 2003-09-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides estimates of potential output growth in post-apartheid South Africa using both time trend techniques and a production function approach which indicates a potential growth rate of around 3 percent. The implied output gap provides statistically significant information for predicting inflation and could thus provide valuable input for formulating macroeconomic policy. Growth accounting and regression analysis suggest that an increase in trend GDP growth after the end of apartheid in 1994 is attributable to higher TFP growth driven by trade liberalization and greater private sector participation.

Potential Output and Total Factor Productivity Growth in Post-Apartheid South Africa

Potential Output and Total Factor Productivity Growth in Post-Apartheid South Africa

Author: Vivek B. Arora

Publisher:

Published: 2006

Total Pages: 21

ISBN-13:

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This paper provides estimates of potential output growth in post-apartheid South Africa using both time trend techniques and a production function approach which indicates a potential growth rate of around 3 percent. The implied output gap provides statistically significant information for predicting inflation and could thus provide valuable input for formulating macroeconomic policy. Growth accounting and regression analysis suggest that an increase in trend GDP growth after the end of apartheid in 1994 is attributable to higher TFP growth driven by trade liberalization and greater private sector participation.


Book Synopsis Potential Output and Total Factor Productivity Growth in Post-Apartheid South Africa by : Vivek B. Arora

Download or read book Potential Output and Total Factor Productivity Growth in Post-Apartheid South Africa written by Vivek B. Arora and published by . This book was released on 2006 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides estimates of potential output growth in post-apartheid South Africa using both time trend techniques and a production function approach which indicates a potential growth rate of around 3 percent. The implied output gap provides statistically significant information for predicting inflation and could thus provide valuable input for formulating macroeconomic policy. Growth accounting and regression analysis suggest that an increase in trend GDP growth after the end of apartheid in 1994 is attributable to higher TFP growth driven by trade liberalization and greater private sector participation.

Measuring the Potential Output of South Africa

Measuring the Potential Output of South Africa

Author: Nir Klein

Publisher: International Monetary Fund

Published: 2011-08-25

Total Pages: 32

ISBN-13: 1475510144

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This paper provides an assessment of the South African potential output for the period 1985-2010 by applying both structural and nonstructural estimation techniques. The analysis suggests that, while potential output growth steadily accelerated in the post-apartheid era to about 3 1/2 percent (1994-2008), it has decelerated considerably following the outbreak of the financial crisis, as was observed in other advanced and emerging economies. While this indicates that, at around -1 1/ 2 percent, the estimated 2010 output gap was lower than previously thought, there is a fair amount of uncertainty regarding its "true" magnitude, reflecting in part the backward looking nature of the estimation methods. The paper concludes that the potential growth is likely to gradually revert to its precrisis pace and the output gap to have closed by early 2012.


Book Synopsis Measuring the Potential Output of South Africa by : Nir Klein

Download or read book Measuring the Potential Output of South Africa written by Nir Klein and published by International Monetary Fund. This book was released on 2011-08-25 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an assessment of the South African potential output for the period 1985-2010 by applying both structural and nonstructural estimation techniques. The analysis suggests that, while potential output growth steadily accelerated in the post-apartheid era to about 3 1/2 percent (1994-2008), it has decelerated considerably following the outbreak of the financial crisis, as was observed in other advanced and emerging economies. While this indicates that, at around -1 1/ 2 percent, the estimated 2010 output gap was lower than previously thought, there is a fair amount of uncertainty regarding its "true" magnitude, reflecting in part the backward looking nature of the estimation methods. The paper concludes that the potential growth is likely to gradually revert to its precrisis pace and the output gap to have closed by early 2012.

Post-Apartheid South Africa

Post-Apartheid South Africa

Author: Mr.M. Nowak

Publisher: International Monetary Fund

Published: 2006-01-12

Total Pages: 244

ISBN-13: 9781589064706

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This book provides a comprehensive review of recent economic developments in South Africa and the structural and policy challenges facing the authorities. Individual papers examine a range of topics such as unemployment and the labor market, recent trends in the private saving rate, the role of foreign direct investment in the development of South Africa’s economy, the human and economic repercussions of the HIV/AIDS epidemic, the role of fiscal policy in economic stabilization, inflation developments, liberalization of trade and capital transactions, exchange rate developments, and lessons from the rand crises of 1998 and 2001.


Book Synopsis Post-Apartheid South Africa by : Mr.M. Nowak

Download or read book Post-Apartheid South Africa written by Mr.M. Nowak and published by International Monetary Fund. This book was released on 2006-01-12 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive review of recent economic developments in South Africa and the structural and policy challenges facing the authorities. Individual papers examine a range of topics such as unemployment and the labor market, recent trends in the private saving rate, the role of foreign direct investment in the development of South Africa’s economy, the human and economic repercussions of the HIV/AIDS epidemic, the role of fiscal policy in economic stabilization, inflation developments, liberalization of trade and capital transactions, exchange rate developments, and lessons from the rand crises of 1998 and 2001.

Infrastructure and Growth in South Africa

Infrastructure and Growth in South Africa

Author: Johannes W. Fedderke

Publisher: World Bank Publications

Published: 2006

Total Pages: 48

ISBN-13:

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"Empirical explorations of the growth and productivity impacts of infrastructure have been characterized by ambiguous (countervailing signs) results with little robustness. A number of explanations of the contradictory findings have been proposed. These range from the crowd-out of private by public sector investment, non-linearities generating the possibility of infrastructure overprovision, simultaneity between infrastructure provision and growth, and the possibility of multiple (hence indirect) channels of influence between infrastructure and productivity improvements. The authors explore these possibilities using panel data for South Africa over the 1970-2000 period, and a range of 19 infrastructure measures. Using a number of alternative measures of productivity, the prevalence of ambiguous (countervailing signs) results, with little systematic pattern is also shown to hold for their data set in estimations that include the infrastructure measures in simple growth frameworks. The authors demonstrate that controlling for potential endogeneity of infrastructure in estimation robustly eliminates virtually all evidence of ambiguous impacts of infrastructure, due for example to possible overinvestment in infrastructure. Controlling for the possibility of endogeneity in the infrastructure measures renders the impact of infrastructure capital not only positive, but of economically meaningful magnitudes. These findings are invariant between the direct impact of infrastructure on labor productivity, and the indirect impact of infrastructure on total factor productivity."--World Bank web site.


Book Synopsis Infrastructure and Growth in South Africa by : Johannes W. Fedderke

Download or read book Infrastructure and Growth in South Africa written by Johannes W. Fedderke and published by World Bank Publications. This book was released on 2006 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Empirical explorations of the growth and productivity impacts of infrastructure have been characterized by ambiguous (countervailing signs) results with little robustness. A number of explanations of the contradictory findings have been proposed. These range from the crowd-out of private by public sector investment, non-linearities generating the possibility of infrastructure overprovision, simultaneity between infrastructure provision and growth, and the possibility of multiple (hence indirect) channels of influence between infrastructure and productivity improvements. The authors explore these possibilities using panel data for South Africa over the 1970-2000 period, and a range of 19 infrastructure measures. Using a number of alternative measures of productivity, the prevalence of ambiguous (countervailing signs) results, with little systematic pattern is also shown to hold for their data set in estimations that include the infrastructure measures in simple growth frameworks. The authors demonstrate that controlling for potential endogeneity of infrastructure in estimation robustly eliminates virtually all evidence of ambiguous impacts of infrastructure, due for example to possible overinvestment in infrastructure. Controlling for the possibility of endogeneity in the infrastructure measures renders the impact of infrastructure capital not only positive, but of economically meaningful magnitudes. These findings are invariant between the direct impact of infrastructure on labor productivity, and the indirect impact of infrastructure on total factor productivity."--World Bank web site.

After Apartheid

After Apartheid

Author: Ian Shapiro

Publisher: University of Virginia Press

Published: 2011-06-21

Total Pages: 385

ISBN-13: 0813931010

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Democracy came to South Africa in April 1994, when the African National Congress won a landslide victory in the first free national election in the country’s history. That definitive and peaceful transition from apartheid is often cited as a model for others to follow. The new order has since survived several transitions of ANC leadership, and it averted a potentially destabilizing constitutional crisis in 2008. Yet enormous challenges remain. Poverty and inequality are among the highest in the world. Staggering unemployment has fueled xenophobia, resulting in deadly aggression directed at refugees and migrant workers from Zimbabwe and Mozambique. Violent crime rates, particularly murder and rape, remain grotesquely high. The HIV/AIDS pandemic was shockingly mishandled at the highest levels of government, and infection rates continue to be overwhelming. Despite the country’s uplifting success of hosting Africa’s first World Cup in 2010, inefficiency and corruption remain rife, infrastructure and basic services are often semifunctional, and political opposition and a free media are under pressure. In this volume, major scholars chronicle South Africa’s achievements and challenges since the transition. The contributions, all previously unpublished, represent the state of the art in the study of South African politics, economics, law, and social policy.


Book Synopsis After Apartheid by : Ian Shapiro

Download or read book After Apartheid written by Ian Shapiro and published by University of Virginia Press. This book was released on 2011-06-21 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Democracy came to South Africa in April 1994, when the African National Congress won a landslide victory in the first free national election in the country’s history. That definitive and peaceful transition from apartheid is often cited as a model for others to follow. The new order has since survived several transitions of ANC leadership, and it averted a potentially destabilizing constitutional crisis in 2008. Yet enormous challenges remain. Poverty and inequality are among the highest in the world. Staggering unemployment has fueled xenophobia, resulting in deadly aggression directed at refugees and migrant workers from Zimbabwe and Mozambique. Violent crime rates, particularly murder and rape, remain grotesquely high. The HIV/AIDS pandemic was shockingly mishandled at the highest levels of government, and infection rates continue to be overwhelming. Despite the country’s uplifting success of hosting Africa’s first World Cup in 2010, inefficiency and corruption remain rife, infrastructure and basic services are often semifunctional, and political opposition and a free media are under pressure. In this volume, major scholars chronicle South Africa’s achievements and challenges since the transition. The contributions, all previously unpublished, represent the state of the art in the study of South African politics, economics, law, and social policy.

How Immigrants Contribute to South Africa's Economy

How Immigrants Contribute to South Africa's Economy

Author: OECD

Publisher: OECD Publishing

Published: 2018-07-26

Total Pages: 153

ISBN-13: 9264085394

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How Immigrants Contribute to South Africa’s Economy is the result of a project carried out by the OECD Development Centre and the International Labour Organization, with support from the European Union.


Book Synopsis How Immigrants Contribute to South Africa's Economy by : OECD

Download or read book How Immigrants Contribute to South Africa's Economy written by OECD and published by OECD Publishing. This book was released on 2018-07-26 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: How Immigrants Contribute to South Africa’s Economy is the result of a project carried out by the OECD Development Centre and the International Labour Organization, with support from the European Union.

South African Economy

South African Economy

Author: Peter Brixen

Publisher: Routledge

Published: 2005-09-27

Total Pages: 224

ISBN-13: 113476541X

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What are the macroeconomic prospects for South Africa until the new millennium? Two methods of macroeconomic modelling, associated with the World Bank and IMF, are used here to generate three scenarios, based on moderately optimistic projections. The methodology used can be applied to other developing countries.


Book Synopsis South African Economy by : Peter Brixen

Download or read book South African Economy written by Peter Brixen and published by Routledge. This book was released on 2005-09-27 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the macroeconomic prospects for South Africa until the new millennium? Two methods of macroeconomic modelling, associated with the World Bank and IMF, are used here to generate three scenarios, based on moderately optimistic projections. The methodology used can be applied to other developing countries.

Structural Transformation in South Africa

Structural Transformation in South Africa

Author: Antonio Andreoni

Publisher: Oxford University Press

Published: 2021

Total Pages: 411

ISBN-13: 0192894315

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Taking South Africa as an important case study of the challenges of structural transformation, the book offers a new micro-meso level framework and evidence linking country-specific and global dynamics of change, with a focus on the current challenges and opportunities faced by middle-income countries.


Book Synopsis Structural Transformation in South Africa by : Antonio Andreoni

Download or read book Structural Transformation in South Africa written by Antonio Andreoni and published by Oxford University Press. This book was released on 2021 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taking South Africa as an important case study of the challenges of structural transformation, the book offers a new micro-meso level framework and evidence linking country-specific and global dynamics of change, with a focus on the current challenges and opportunities faced by middle-income countries.

2015 Agricultural Total Factor Productivity And Competitiveness Analysis For States And Federal Territories And Five Regions Of India: Annual Competitiveness Update And Evidence On The Agricultural Development Models For Selected Indian States

2015 Agricultural Total Factor Productivity And Competitiveness Analysis For States And Federal Territories And Five Regions Of India: Annual Competitiveness Update And Evidence On The Agricultural Development Models For Selected Indian States

Author: Khee Giap Tan

Publisher: World Scientific

Published: 2016-11-22

Total Pages: 165

ISBN-13: 9813147881

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This book by the Asia Competitiveness Institute (ACI) undertakes rigorous empirical research relating to competitiveness of states and federal territories in India. The competitiveness framework employed by ACI computes the rankings for the 35 states and federal territories of India by factoring in a plethora of socio-economic development indicators that determine competitiveness. In this book, ACI's competitiveness analysis employs 75 different indicators across four different environments to capture the dynamics of competitiveness in a holistic way at the sub-national level. Further, the book produces a 'What-If' competitiveness simulation exercise to identify the specific policy areas that each state or federal territory must focus on to improve their rankings. Along with competitiveness, the book also presents a comprehensive analysis of issues relating to agricultural productivity at the sub-national level. Specifically, the book discusses the relevance and importance of raising total factor productivity in the agriculture sector in India at the state level and also brings out the extent of intra-state and intra-regional disparities prevalent in the country.


Book Synopsis 2015 Agricultural Total Factor Productivity And Competitiveness Analysis For States And Federal Territories And Five Regions Of India: Annual Competitiveness Update And Evidence On The Agricultural Development Models For Selected Indian States by : Khee Giap Tan

Download or read book 2015 Agricultural Total Factor Productivity And Competitiveness Analysis For States And Federal Territories And Five Regions Of India: Annual Competitiveness Update And Evidence On The Agricultural Development Models For Selected Indian States written by Khee Giap Tan and published by World Scientific. This book was released on 2016-11-22 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book by the Asia Competitiveness Institute (ACI) undertakes rigorous empirical research relating to competitiveness of states and federal territories in India. The competitiveness framework employed by ACI computes the rankings for the 35 states and federal territories of India by factoring in a plethora of socio-economic development indicators that determine competitiveness. In this book, ACI's competitiveness analysis employs 75 different indicators across four different environments to capture the dynamics of competitiveness in a holistic way at the sub-national level. Further, the book produces a 'What-If' competitiveness simulation exercise to identify the specific policy areas that each state or federal territory must focus on to improve their rankings. Along with competitiveness, the book also presents a comprehensive analysis of issues relating to agricultural productivity at the sub-national level. Specifically, the book discusses the relevance and importance of raising total factor productivity in the agriculture sector in India at the state level and also brings out the extent of intra-state and intra-regional disparities prevalent in the country.