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| Author: | Frankel, J. Smit, B. Sturzenegger, F. |
| Title: | South Africa: Macroeconomic challenges after a decade of success |
| Journal: | Economics of transition
2008 : VOL. 16:4, p. 639-677 |
| Index terms: | south africa growth |
| Language: | eng |
| Abstract: | South African economy has done very well more than halfway through the decade. This article considers whether such achievements provide grounds for complacency. This article discusses the current account challenge in light of the Accelerated and Shared Growth Initiative for South Africa (ASGI-SA) program. The conclusion is that a cautionary note on the need to reduce external imbalances is needed. This study provides policy recommendations to minimize the negative impact of a possible sudden stop of capital inflows. Given South Africa's recent employment and productivity performance a large investment program would be required to deliver the desired growth rate. This imposes a large burden on public investment and on the current account itself. |
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