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Periodical article | Leiden University catalogue | WorldCat |
Title: | Gambling on Investment: Competing Economic Strategies in South Africa |
Author: | Nattrass, Nicoli |
Year: | 1996 |
Periodical: | Transformation: Critical Perspectives on Southern Africa |
Issue: | 31 |
Pages: | 25-42 |
Language: | English |
Geographic term: | South Africa |
Subjects: | investments economic development Development and Technology Economics and Trade |
External link: | https://d.lib.msu.edu/tran/300/OBJ/download |
Abstract: | Early 1996 President Mandela called on the public and private sectors in South Africa to develop and implement a 'national vision' to put an end to the country's slow economic growth, rising unemployment and persistent poverty. This set the scene for a year which turned out to be rich in contrasting economic visions and growth strategies. The present article categorizes these visions into two broad stables: the SAF (South African Foundation)/GEAR (growth, employment and redistribution) vision and the Nedlac Labour Caucus/ILO vision. It analyses SAF/GEAR and Labour/ILO views on the labour market and the role of the State. There is a certain logic to both the SAF/GEAR and Labour/ILO economic positions. They differ on the issue of how investors are assumed to respond. SAF/GEAR assumes that investors will respond appreciatively to restrictive fiscal policy despite its deflationary effects; while in the Labour/ILO world investors are assumed to throw their weight behind a more expansionary policy irrespective of the debt situation, labour market dynamics and inflationary prospects. Bibliogr., notes, ref. |