An investigation into the causes and effect of rising public debt in South Africa, 2009-2019
- Authors: Mzumala, Mirriam
- Date: 2024-10-11
- Subjects: Debts, Public South Africa , South Africa Economic conditions , Global Financial Crisis, 2008-2009 , Expenditures, Public , Economic development South Africa
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/461918 , vital:76251
- Description: This study delves into the intricate factors contributing to the rising public debt in South Africa between 2009 and 2019, while also scrutinising the efficacy of public debt expenditure during this period. By examining data sourced from the SA National Treasury of South Africa and the South African Reserve Bank (SARB), the research endeavours to elucidate the underlying causes behind the burgeoning public debt and assess the impact of expenditure patterns on economic outcomes. The global financial crisis of 2008/2009 marked a pivotal juncture for South Africa's economy, precipitating a series of fiscal challenges that reverberated throughout the subsequent decade. Against this backdrop, this study embarks on a dual mission: firstly, to decipher the drivers underpinning the surge in public debt, and secondly, to gauge the efficacy of public expenditure vis-à-vis economic growth and development objectives. From 2009 to 2019, fiscal analysis shows a clear pattern of growing budget deficits, with government spending surpassing revenue growth. South Africa's fiscal policy has heavily favoured deficit spending, relying on debt to cover revenue shortfalls and maintain expenditure growth. Most government spending goes towards current payments and social transfers, leaving little for capital formation. Despite the National Development Plan's emphasis on investing in productive assets, both public and private sector investments have consistently fallen below targets, hindering significant contributions to economic growth. The rising public debt in South Africa stems from numerous factors, including excessive spending on unproductive areas like government compensation and social transfers, alongside high borrowing costs. This consumption-focused economic approach, coupled with insufficient investment in productive assets, has hindered South Africa's economic progress compared to global counterparts. Given these challenges, it is crucial to shift fiscal priorities towards strategies focused on investment-led growth. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2024
- Full Text:
- Date Issued: 2024-10-11
- Authors: Mzumala, Mirriam
- Date: 2024-10-11
- Subjects: Debts, Public South Africa , South Africa Economic conditions , Global Financial Crisis, 2008-2009 , Expenditures, Public , Economic development South Africa
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/461918 , vital:76251
- Description: This study delves into the intricate factors contributing to the rising public debt in South Africa between 2009 and 2019, while also scrutinising the efficacy of public debt expenditure during this period. By examining data sourced from the SA National Treasury of South Africa and the South African Reserve Bank (SARB), the research endeavours to elucidate the underlying causes behind the burgeoning public debt and assess the impact of expenditure patterns on economic outcomes. The global financial crisis of 2008/2009 marked a pivotal juncture for South Africa's economy, precipitating a series of fiscal challenges that reverberated throughout the subsequent decade. Against this backdrop, this study embarks on a dual mission: firstly, to decipher the drivers underpinning the surge in public debt, and secondly, to gauge the efficacy of public expenditure vis-à-vis economic growth and development objectives. From 2009 to 2019, fiscal analysis shows a clear pattern of growing budget deficits, with government spending surpassing revenue growth. South Africa's fiscal policy has heavily favoured deficit spending, relying on debt to cover revenue shortfalls and maintain expenditure growth. Most government spending goes towards current payments and social transfers, leaving little for capital formation. Despite the National Development Plan's emphasis on investing in productive assets, both public and private sector investments have consistently fallen below targets, hindering significant contributions to economic growth. The rising public debt in South Africa stems from numerous factors, including excessive spending on unproductive areas like government compensation and social transfers, alongside high borrowing costs. This consumption-focused economic approach, coupled with insufficient investment in productive assets, has hindered South Africa's economic progress compared to global counterparts. Given these challenges, it is crucial to shift fiscal priorities towards strategies focused on investment-led growth. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2024
- Full Text:
- Date Issued: 2024-10-11
The role of a national system of innovation in facilitating development in South Africa from a comparative BRICS perspective
- Authors: Sibhukwana, Andiswa
- Date: 2022-04-06
- Subjects: BRIC countries , Technological innovations Economic aspects South Africa , Economic development South Africa , Economics Mathematical models , Neoclassical school of economics , South Africa Economic conditions , South Africa Economic policy , National systems of innovation
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/284616 , vital:56079
- Description: The aim of the dissertation was to investigate whether the adoption of a national system of innovation has helped facilitate development in South Africa from a comparative BRICS perspective. South Africa has an expanding focus on science and technology, as per the Science and Technology White Paper (1996). There appeared to be innovation that had left out much of the citizenry. There continued to be poverty, inequality, and joblessness. The study aimed to understand how the NSI approach could be used to foster inclusive and transformative development. The study used a mixed-methods approach. The qualitative aspect of the research focused on an innovation and public policy study which assessed the various policies and initiatives implemented in each of the BRICS countries to drive innovation and foster development. The qualitative aspect of the study found that the innovation paradigm required governments to adopt a more holistic approach to public policy design and analysis. The quantitative aspect of the research focused on a trend, correlation, and regression analysis. The trend analysis revealed that China and Brazil increased their allocation of resources towards R&D compared to the other countries. Brazil is regarded as a social investment state, while China is a developmental state: this means the state plays an extraordinarily strong coordinative and financing role in the NSI. On the other hand, the correlation matrix for South Africa revealed a statistically significant positive linear association between various NSI indicators and human development. This suggested that the innovation benefits are trickling down to the general citizenry. In essence the study articulated key elements of the understanding of current and potential impacts of technological change in productivity and growth, employment and inequality that can be used for policy making. , Thesis (MEcon) -- Faculty of Commerce, Economics and Economic History, 2022
- Full Text:
- Date Issued: 2022-04-06
- Authors: Sibhukwana, Andiswa
- Date: 2022-04-06
- Subjects: BRIC countries , Technological innovations Economic aspects South Africa , Economic development South Africa , Economics Mathematical models , Neoclassical school of economics , South Africa Economic conditions , South Africa Economic policy , National systems of innovation
- Language: English
- Type: Academic theses , Master's theses , text
- Identifier: http://hdl.handle.net/10962/284616 , vital:56079
- Description: The aim of the dissertation was to investigate whether the adoption of a national system of innovation has helped facilitate development in South Africa from a comparative BRICS perspective. South Africa has an expanding focus on science and technology, as per the Science and Technology White Paper (1996). There appeared to be innovation that had left out much of the citizenry. There continued to be poverty, inequality, and joblessness. The study aimed to understand how the NSI approach could be used to foster inclusive and transformative development. The study used a mixed-methods approach. The qualitative aspect of the research focused on an innovation and public policy study which assessed the various policies and initiatives implemented in each of the BRICS countries to drive innovation and foster development. The qualitative aspect of the study found that the innovation paradigm required governments to adopt a more holistic approach to public policy design and analysis. The quantitative aspect of the research focused on a trend, correlation, and regression analysis. The trend analysis revealed that China and Brazil increased their allocation of resources towards R&D compared to the other countries. Brazil is regarded as a social investment state, while China is a developmental state: this means the state plays an extraordinarily strong coordinative and financing role in the NSI. On the other hand, the correlation matrix for South Africa revealed a statistically significant positive linear association between various NSI indicators and human development. This suggested that the innovation benefits are trickling down to the general citizenry. In essence the study articulated key elements of the understanding of current and potential impacts of technological change in productivity and growth, employment and inequality that can be used for policy making. , Thesis (MEcon) -- Faculty of Commerce, Economics and Economic History, 2022
- Full Text:
- Date Issued: 2022-04-06
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