Economic Growth in Post-Apartheid South Africa: A Growth-Accounting Analysis
نویسنده
چکیده
This chapter examines South Africa’s growth performance since 1994 within a growth-accounting framework, and assesses growth prospects going forward.1 Near-term prospects can be captured by potential output growth and the output gap (the difference between actual and potential output). Together with other indicators, this can provide an indication of the intensity of resource utilization and inflationary pressures.2 Longerterm growth prospects can be assessed on the basis of the full utilization of factors of production and the output gains that arise as these factors are
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