The SA economy, structure and growth Reply

Channing Arndt

Yesterday we had the privilege of hosting Channing Arndt of UNU-WIDER at our seminar series. He spoke on the topic of structural change of the South African economy and used mini Social Accounting Matrices constructed for the period 1993 to 2013 to have a closer look at changes in productivity.

He outlined the familiar facts of slow economic growth and a low rate of employment growth over the period – since 2008 these growth rates have been even lower. Linking this to productivity, he characterised the sectors as follows.

Employment growth
Low High
Productivity growth High Manufacturing
Low Mining Services

We had an interesting discussion on the exports of services and the growth in the skilled wage premium.

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