Changing Gear? The 2001 Budget and Economic Policy in South Africa

bibliographic database
Line

Periodical article

Title:	Changing Gear? The 2001 Budget and Economic Policy in South Africa
Authors:	Padayachee, Vishnu Valodia, Imraan
Year:	2001
Periodical:	Transformation: Critical Perspectives on Southern Africa
Issue:	46
Pages:	71-83
Language:	English
Geographic term:	South Africa
Subjects:	national budget economic policy Politics and Government Economics and Trade Development and Technology
External link:	https://d.lib.msu.edu/tran/435/OBJ/download
Abstract:	The authors of this paper on South Africa's 2001 budget and economic policy first summarize the nature of ANC economic policy thinking in the post-1994 period which was codified in June 1996 with the publication of 'Growth, Employment and Redistribution' (GEAR). Thereafter they discuss the features of the 2001 budget and link this to recent debates on the nature and efficacy of the post-1994 policy stance. They conclude that the ANC has acknowledged tacitly that its market-friendly approach, though pleasing international capital, has not successfully addressed the economic challenges facing South Africa. They do not believe, however, that there has been a decisive shift in the underlying thrust and character of ANC economic policy. Rather, they argue that, in the face of the failure of its orthodox policies, unorthodox and more interventionist economic policy ideas are emerging within the ANC government - a trend which may potentially, though not inevitably, herald the beginnings of a more progressive economic policy stance. Bibliogr.