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Growth Theory and Application: The Case of South Africa

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Author Info
Dave Liu () (Department of Economics, University of Pretoria)
Abstract

This essay is a comparison study of traditional Neoclassical growth theory and new growth theory. It also discusses growth theory in the real world by investigating the so called “growth miracles” and “growth disasters” scenarios in the developing world. Finally, the essay performs a standard growth accounting exercise on South African economy mainly focuses on the importance of human capital in growth process. Growth accounting exercise shows that South Africa experiences a capital-accumulated growth in the 1970s and 80s, while sharply shifts to technology-accumulated growth in the 1990s and early 2000s.

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Publisher Info
Paper provided by University of Pretoria, Department of Economics in its series Working Papers with number 200714.

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Length: 39 pages
Date of creation: Sep 2007
Date of revision:
Handle: RePEc:pre:wpaper:200714

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Related research
Keywords: Economic growth Solow growth model Growth accounting

Find related papers by JEL classification:
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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