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Quantifying shifts in primary factor demand in the South African economy

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  • Heinrich R. Bohlmann
  • Marthinus C. Breitenbach

Abstract

This article uses a dynamic computable general equilibrium model to explain the persistence in the high levels of unemployment in the South African economy in spite of modest to relatively strong output growth. We make use of a historical simulation for the period 2006--13 and find that the capital--labour ratio increased despite a relative increase in the rental price of capital. Classical economic theory suggests that changes in industry preferences toward capital and labour lead to adjusted capital--labour ratios. We quantify the changes in industry factor preferences during this period and highlight their impact in explaining observed labour market outcomes. Other changes in the economy over this period are also quantified.

Suggested Citation

  • Heinrich R. Bohlmann & Marthinus C. Breitenbach, 2016. "Quantifying shifts in primary factor demand in the South African economy," Development Southern Africa, Taylor & Francis Journals, vol. 33(2), pages 286-296, March.
    • Handle: RePEc:taf:deveza:v:33:y:2016:i:2:p:286-296
    DOI: 10.1080/0376835X.2015.1120652
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    Cited by:

    1. Juan-Pierré BRUWER & Mariaan LOMBARD & Yolandé SMIT & Ankit KATRODIA, 2019. "The Influence of Excise Taxation Levied on Product Sales on the Financial Sustainability of South African Tobacco-and-Alcohol-Selling Small, Medium and Micro Enterprise," Expert Journal of Business and Management, Sprint Investify, vol. 7(1), pages 100-106.

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