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A Growth Model For South Africa

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  • Jørn Rattsø
  • Hildegunn e. Stokke

Abstract

We examine the South African growth experience during 1960-2005 using an intertemporal growth model. The model combines old growth theory investment dynamics and new growth theory endogenous productivity growth. The consumption and investment decisions are intertemporal and assume open capital markets. Structural change is captured by separating the traded and nontraded sectors, and sectoral productivity growth is determined in a barriers-to-growth framework. Calibration of the model shows how the growth experience combines neoclassical convergence, technology spillovers with barriers and productivity-investment interaction. Counterfactual analysis shows the growth costs of sanctions and protectionism. The suggested model is an alternative to existing growth modelling in South Africa, in which investments are short-sighted and productivity growth is imposed exogenously. Copyright (c) 2007 The Authors. Journal compilation (c) 2007 Economic Society of South Africa.

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Bibliographic Info

Article provided by Economic Society of South Africa in its journal South African Journal of Economics.

Volume (Year): 75 (2007)
Issue (Month): 4 (December)
Pages: 616-630

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Handle: RePEc:bla:sajeco:v:75:y:2007:i:4:p:616-630

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Cited by:
  1. Kjell Erik Lommerud & Frode Meland & Odd Rune Straume, 2010. "North-South Technology Transfer in Unionised Multinationals," CESifo Working Paper Series 3273, CESifo Group Munich.
  2. Wim Naudé, 2011. "Economic Development in Sub-Saharan Africa: The Case of the Big Four," Working Papers 2011/34, Maastricht School of Management.
  3. Rattsø, Jørn & Stokke, Hildegunn, 2009. "Wage inequality, comparative advantage and skill biased technical change in South Africa," Proceedings of the German Development Economics Conference, Frankfurt a.M. 2009 34, Verein für Socialpolitik, Research Committee Development Economics.
  4. Rattsø, Jørn & Stokke, Hildegunn E., 2012. "Trade policy in a growth model with technology gap dynamics and simulations for South Africa," Journal of Economic Dynamics and Control, Elsevier, vol. 36(7), pages 1042-1056.
  5. Jørn Rattsø & Hildegunn E. Stokke, 2009. "Trade barriers to growth in South Africa: Endogenous investment-productivity-trade interaction," DEGIT Conference Papers c014_010, DEGIT, Dynamics, Economic Growth, and International Trade.

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