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Employment-Targeted Economic Program for South Africa [Hardback]

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  • Formāts: Hardback, 240 pages, height x width: 216x138 mm
  • Izdošanas datums: 23-Feb-2007
  • Izdevniecība: Edward Elgar Publishing Ltd
  • ISBN-10: 1847201180
  • ISBN-13: 9781847201188
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  • Cena: 135,34 €
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Employment-Targeted Economic Program for South AfricaPalielināt
  • Formāts: Hardback, 240 pages, height x width: 216x138 mm
  • Izdošanas datums: 23-Feb-2007
  • Izdevniecība: Edward Elgar Publishing Ltd
  • ISBN-10: 1847201180
  • ISBN-13: 9781847201188
Citas grāmatas par šo tēmu:
Permanent link: https://www.kriso.lv/db/9781847201188.html

The people of South Africa, and the African National Congress-led government, have made extraordinary social and economic advances since ending apartheid and beginning the transition to democracy in 1994. But the country still faces severe problems of mass unemployment, underemployment and poverty. This study, sponsored by the United Nations Development Program, presents a detailed economic program designed to produce major reductions in unemployment and poverty, and a general spreading of economic well-being, and to achieve these ends in a manner that is sustainable over a longer-term framework.

The 'employment-targeted' program developed here builds from standard policy tools and initiatives already undertaken by the government in the areas of macroeconomic policy, development banking and large-scale credit subsidies, labor-intensive public investments, and social welfare expenditures. The authors introduce these measures alongside specific proposals in the areas of fiscal budgetary control, inflation control and exchange rate management.

Students and scholars of development economics will find this analysis of South Africa's economy, and the authors' plan for stimulating job growth, of great interest.

Recenzijas

'This is an exciting and stimulating work, and one that will leave its mark upon the work of social scientists and policymakers.' -- Lumkile Mondi, Industrial Development Corporation of South Africa; and Presidential Economic Advisory Panel of South Africa 'Investment in South Africa is low, real interest rates are high, the employment-intensity of growth has been relatively slow. The "employment-targeted program" advocated in this book seeks to reverse these tendencies by lowering average interest rates and channeling subsidized credit to labor-intensive, pro-poor activities, particularly small-scale agriculture and small and medium-sized enterprises. This is a bold program and by challenging conventional "inflation-targeted" economic policy, the book makes a major contribution to the debate on economic policy in South Africa.' -- Keith B. Griffin, University of California-Riverside, US

List of Tables vii
List of Figures ix
Acknowledgments xi
Brief Highlights of Major Proposals xiii
Summary of Major Findings and Proposals xix
1. Introduction 1
2. The Nature of Mass Unemployment in South Africa Today 5
Who Are the Unemployed?
5
The Labor Demand Perspective
9
Impact of Slow Growth and Declining Labor Intensity
11
Why Is There Employment Stagnation in the Formal Economy?
16
3. Supply-Side Perspectives on Employment Expansion 21
Wage Cutting and Labor Market Flexibility
22
Global Competitiveness Approach
24
Examining the Evidence on Unit Labor Costs and Unemployment
25
Policy Approaches to Reducing Unit Labor Costs
32
4. A Policy Framework on Growth, Labor Intensity, and Poverty Reduction 39
Economic Growth
39
Increasing Labor Intensity
56
5. Policy Interventions for an Employment-Targeted Program 79
Fiscal Policies
79
Monetary Policy and Interest Rates
88
Public Credit Allocation and Development Banking
96
Controls on Exchange Rates and Capital Flows
118
Inflation Control and Economic Growth
128
Productive Sector Policies
135
Appendix 1: Sources of Employment Data and Employment Elasticity Estimate 143
Appendix 2: Macroeconomic Policy Factors and Private Investment in South Africa 147
Appendix 3: Estimation of Consumption Function for South Africa 159
Appendix 4: Input—Output Model and Employment Multipliers 163
Appendix 5: Securities Transaction Taxes Around the World as of 2002 167
Appendix 6: South Africa Monetary Policy Alternatives: VAR-Based Simulation Models 171
Bibliography 185
Index 195
About the Authors 203
Robert Pollin and Gerald A. Epstein, Professors and founding Co-Directors, Political Economy Research Institute, University of Massachusetts-Amherst and Léonce Ndikumana, Department of Economics, University of Massachusetts, US