EconStor >
Universität Hamburg (UHH) >
Fachbereich Sozialökonomie - Lehrstuhl Finanzwissenschaft und Public Governance, Universität Hamburg >
Arbeitspapiere für Staatswissenschaften - Working Papers on Economic Governance, FB Sozialökonomie der Universität Hamburg >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/27090
  
Title:How to create a growth-oriented market constellation for South Africa PDF Logo
Authors:Heise, Arne
Issue Date:2007
Series/Report no.:Arbeitspapiere für Staatswissenschaft 22
Abstract:Post-apartheid South Africa is facing three major economic problems: (1) slack economic growth, (2) high and growing unemployment and (3) among the world's highest income inequality and poverty indices. South Africa is currently caught in a macro-economic straight-jacket of tight monetary, restrictive fiscal and a wage policy stance that raises NAIRU. The persistence of a sub-optimal 'market constellation' is created by an institutional setting of a non-accommodative Reserve Bank, a sectoral-regional and company level noncoordinated collective bargaining system, an austere 'sound finance regime' of public budgeting and the lack of any institution to co-ordinate macro-economic policy. To tailor a better fitting constellation, a social contract involving major reforms in macro-economic governance in South Africa is proposed.
Subjects:Monetary Policy
fiscal policy
wage policy
macro-economic co-ordination
JEL:E12
E24
E6
O1
O23
Document Type:Working Paper
Appears in Collections:Arbeitspapiere für Staatswissenschaften - Working Papers on Economic Governance, FB Sozialökonomie der Universität Hamburg

Files in This Item:
File Description SizeFormat
527782319.PDF253.13 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/27090

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.