Structural Transformation in South Africa

This volume offers highly original perspectives on structural transformation in South Africa. It provides sophisticated analyses of productive transformation at the sectoral level, based on profound understanding of national political economy and global technological trends. It is aunique contribution to industrial policy making in middle-income countries. * Ha-Joon Chang, Reader, University of Cambridge *
Can industrial policy achieve structural transformation in a developing country in the 21st century? This fascinating volume identifies new and emerging constraints in the context of South Africa, including GVCs, automation, digitalisation and much else—and provides a positive agenda for economic policy in the new context. A must-read for policy makers and researchers on development. * Jayati Ghosh, Professor of Economics, University of Massachusetts, Amherst *
Blending heterodox economic analysis with selected sectoral case studies, the different chapters examine the damaging legacy of the Washington Consensus on the South African economy and make a clear and convincing case for putting industrial policy back at the centre of development strategy, not only to correct past failures but to manage the new challenges arising from an increasingly digitalized, monopolized and environmentally fragile world. While the South African economy takes centre stage in the volume, the analysis and policy recommendations speak to a wider audience across the developing world. A valuable read. * Richard Kozul-Wright, Director of the Globalisation and Development Strategies Division, United Nations Conference on Trade and Development (UNCTAD) *
This book is a reminder of the unfinished business of building economies that can deliver shared prosperity. This is especially so for South Africa, a middle-income country that has faced economic stagnation in the decade following the Great Recession. In its earlier years, post-apartheid South Africa scored significant achievements in extending basic services to the majority of the population and reversing the poor macroeconomic metrics inherited from the apartheid regime. But to deliver sustained and inclusive growth, the fundamental structure of the economy must be tackled. The deep research presented in this book provides decision-makers across various sectors of society with the material to think deeply about how the South African economy creates value and the nature of its integration in a rapidly evolving global economy. * Trudi Makhaya, Economic Advisor to the President of South Africa, President Cyril Ramaphosa *
As we navigate an increasingly uncertain terrain, this book offers a comprehensive and insightful look into the challenges South Africa faces in the quest for greater inclusive industrial development. The inclusion of industry experts alongside in-depth investigations by academics provides a realistic analysis of the current landscape with future prospects for transformation. This is an important and powerful contribution to steering debates away from rhetoric towards reality. * Tshilidzi Marwala, Vice Chancellor and Principal of the University of Johannesburg *
A highly original and coherent volume blending theories of developmental and entrepreneurial state, with impeccably researched deep dives into the South African economy and society. A timely mine of new evidence to design policies and shape markets towards inclusive and sustainable development. * Mariana Mazzucato, Professor, UCL Institute for Innovation and Public Purpose *
Structural Transformation in South Africa is a timely and distinct book for researchers and policymakers who are interested in structural transformation of developing and emerging economies. Diverse leading scholars present deep analysis anchored in rich development concepts with a practical application to South Africa and linking to the challenges of middle-income countries and global dynamics. South Africa presents a particularly riveting case as one of the most advanced economies in Africa, with a large confluence of factors shaping its industrial policy. The book's emphasis on new industrial policy geared to structural transformation within the context of global drivers that shape it, and the extensive use of rich empirical data add to its significance. * Arkebe Oqubay, Minister and Special Advisor to the Prime Minister of Ethiopia *
This volume makes a critical contribution to improving our understanding of industrial development and structural change in developing countries. Through in-depth analyses of key industries and policy issues in South Africa, it develops a coherent, ambitious and well-grounded agenda for rethinking industrial policy in South Africa and other middle-income countries. * Imraan Valodia, Professor and Dean, University of Witwatersrand, South Africa *