South Africa faces deep structural and macroeconomic challenges that, separately and together, constrain growth and development. So resolving any one issue in isolation will not release the economy’s growth and job-generating potential. A multipronged approach, and a refocused industrial and innovation policy, are imperative for economic transformation. South Africa should focus on a few growth areas with: - Significant externalities, particularly relating to training and innovation. - Access to rapidly growing export markets, thus providing scope for scaling up. - An element of economic rent and not easy for competitors to reproduce. - High local value addition and intensive use of labor. - Tourism, mining equipment, solar energy, high-quality wines, and tea and fruit meet these criteria as potential sources of growth to varying degrees. #transformation2014
Posted on: Thu, 10 Jul 2014 03:13:13 +0000
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