| Abstract: | First, a description of import penetration trends in the South African economy over the last two decades is provided. It is shown that although there has been an overall secular decline in import penetration, the level of import penetration in the most crucial sectors of capital equipment and transport equipment has remained extremely high and the trend has not declined over time. Secondly, estimates of two models of the determinants of the import penetration ratio and of import volumes are provided. This in turn provides estimates of relative price and income demand elasticities. Elasticities are calculated for manufacturing and agriculture and for two of the major sectors for which the relevant indices are available, i.e. chemicals, and machinery and transport equipment. App., bibliogr., ref. |
AfricaBib 
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Leiden University catalogue
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