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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Assessing South Africa's New Growth Path: framework for change?
Author:Fine, Ben
Year:2012
Periodical:Review of African Political Economy (ISSN 0305-6244)
Volume:39
Issue:134
Pages:551-568
Language:English
Geographic term:South Africa
Subjects:economic development
economic policy
External link:https://www.tandfonline.com/doi/abs/10.1080/03056244.2012.738418
Abstract:The New Growth Path (NGP) is the symbolic policy document of South Africa's newly formed Department of Economic Development. It marks an intended break with the growth path of the first two decades of the postapartheid era. But does it do so in principle and is it likely to do so in practice? This paper suggests otherwise because of its failure to address, let alone remedy, the key determining features of the postapartheid economic landscape. These are the (international) financialization of (domestic) conglomerate capital especially associated with (illegal) capital flight, the complicity of a newly formed black elite, and the continuing reliance upon how these interact with South Africa's longstanding minerals-energy complex (MEC). Without breaking with these features, the NGP in particular, and policy more generally, will seek to temper the gains and organizational opposition of better-off workers for putative benefits to those deprived of employment and basic levels of public provision. Bibliogr., notes, ref., sum. in English and French. [Journal abstract]
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