Why isn't South Africa Growing Faster? a Comparative Approach

February 1, 2009

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The purpose of this paper is to examine factors that have constrained South Africa's growth since the end of apartheid by comparing its GDP components and its saving and investment performance with those of 10 faster-growing countries. The study finds that sluggish investment has undermined growth since 1996 and that the underinvestment is in part explained by limited saving. Thus, over the last decade, interactions between investment, saving, and production may have perpetuated slow growth in South Africa.

Subject: Financial services, Labor, Labor productivity, National accounts, Private savings, Production, Real interest rates, Total factor productivity

Keywords: Africa, emerging countries, GDP, GDP growth, growth, growth in South Africa, investment, Labor productivity, Private savings, rate, real interest rate, Real interest rates, saving, saving performance, saving rate, Total factor productivity, WP

Pages:
25
Volume:
2009
DOI:
https://doi.org/10.5089/9781451871722.001
Issue:
025
Series:
Working Paper No. 2009/025
Stock No:
WPIEA2009025
ISBN:
9781451871722
ISSN:
1018-5941

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