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Accelerated Land Reform, Mining, Growth, Unemployment and Inequality in South Africa

DOI: 10.1007/978-3-030-30884-1

ISBN: 978-3-030-30883-4

Publisher: Springer International Publishing - Springer Journals

Jan 3, 2020

1 - 10 of 31 Chapters

LitStream

Chapter 1Introduction

Gumata, Nombulelo; Ndou, Eliphas

Pages: 1 –41

[The South African National Development Plan (NDP) targets net 11 million new jobs or an unemployment rate of 6 per cent by 2030 and to increase the labour participation rate to 65 per cent. In addition, the overarching goal of the plan is to eliminate poverty, reduce inequality from the current...
LitStream

Does the Consideration of Nominal Wage Growth Imply a High Level of Inflation Inertia or Persistenceinflation inertia or persistence Compared to Consumer Price Inflation?

Gumata, Nombulelo; Ndou, Eliphas

Pages: 45 –70

[We establish that nominal wage and consumer price inflation have six disinflation episodes and are highly synchronised. The trends show that nominal wage and consumer price inflation have trended downwards over the sample period. Nominal wage inflation trend has declined significantly post the...
LitStream

Wage and Consumer Price Inflation During Exchange Rate Appreciation and Depreciation EpisodesWage and consumer price inflation during exchange rate appreciation and depreciation episodes

Gumata, Nombulelo; Ndou, Eliphas

Pages: 71 –88

[We find that the R/US$ exchange rate depreciation shocks push nominal wage and consumer price inflation in the same direction albeit at different magnitudes and timing. The direct impact of the R/US$ exchange rate changes has more impact on consumer price inflation compared to nominal wage...
LitStream

An Evaluation of How the Inflation Targeting Frameworkinflation targeting framework Has Performed in South Africa

Gumata, Nombulelo; Ndou, Eliphas

Pages: 91 –115

[How has the inflation targeting framework performed in South Africa? This chapter evaluated the performance of the inflation targeting framework in South Africa from several perspectives. Insight from the inflation and output-gap trade-off indicates that the Taylor curve shifted inwards between...
LitStream

Is There a Case for Nominal GDP Growth Targeting in South Africa and Abandoning Inflation Targetinga case for nominal GDP growth targeting in South Africa?

Gumata, Nombulelo; Ndou, Eliphas

Pages: 117 –133

[Would South Africa be worse-off under nominal GDP (NGDP) growth targeting compared to the current flexible inflation targeting framework? Furthermore, is a higher NGDP growth target consistent with low inflation and a lower repo rate? We establish that on average, the repo rate would have been 5...
LitStream

How Does Nominal GDP Growth Respond to Various Shocks

Gumata, Nombulelo; Ndou, Eliphas

Pages: 135 –144

[This chapter explored the responses of GDP growth and inflation to various financial and macroeconomic shocks. We find that NGDP growth increases more due to positive monetary base shocks compared to inflation. In addition, positive aggregate demand shocks push NGDP growth and inflation in the...
LitStream

Are High NGDP Growth Targetshigh NGDP growth targets Consistent With a Dual Mandate of Low Inflation and Maximum Employment Growth and a Low Unemployment Ratedual mandate of maximum employment growth and a low unemployment rate?

Gumata, Nombulelo; Ndou, Eliphas

Pages: 145 –160

[We find that employment growth rises significantly due to a positive NGDP growth shock when NGDP growth exceeds 10 per cent. On the other hand, the unemployment rate declines due to a positive NGDP growth shock when NGDP growth exceeds 10 per cent. These findings imply that the NGDP growth...
LitStream

What Is the Nature of the Output-Employment-Unemployment Nexus in South Africa? Evidence from Various Approaches to Okun’s LawOkun’s Law

Gumata, Nombulelo; Ndou, Eliphas

Pages: 163 –184

[How has the intensity of aggregate and sectorial output growth to create jobs evolved? Evidence shows that the output-employment coefficients vary over time and was the lowest post-financial crisis. GDP growth above 2 per cent is associated with the highest growth in QES employment and, in...
LitStream

The Impact of Structural Changestructural change on the South African Economy: Evidence from the Structural Change Indices

Gumata, Nombulelo; Ndou, Eliphas

Pages: 185 –202

[Does structural change cause growth? Evidence shows that structural change causes growth. Sector output growth responses exceed those of the structural change indices. Structural change overwhelmingly leads to output growth compared to the other way around. We establish very weak evidence that...
LitStream

The Impact of Structural Change on the South African Economy: Evidence from the McMillan and Rodrik (2011) Labour Productivity Decomposition ApproachMcMillan and Rodrik (2011) labour productivity decomposition approach

Gumata, Nombulelo; Ndou, Eliphas

Pages: 203 –222

[The McMillan and Rodrik (2011) labour productivity decomposition into “within” and “structural change” components shows that the “structural change” component has made negative contributions for the period 1990 to 2015 for the aggregate economy as opposed to the “within” component. The...

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