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

A Case for Bold Supply Side Policy Interventions

Authors: Gumata, Nombulelo, Ndou, Eliphas

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  • First book to comprehensively cover the interaction of Land Reform, Unemployment and Inequality with regard to South African polices
  • Explains how the policy of accelerated land reform will help reduce poverty and inequality
  • Provides case studies and details on the mining and agricultural sectors
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Buy this book

eBook $89.00
price for USA in USD (gross)
  • ISBN 978-3-030-30884-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $119.99
price for USA in USD
  • Customers within the U.S. and Canada please contact Customer Service at +1-800-777-4643, Latin America please contact us at +1-212-460-1500 (24 hours a day, 7 days a week). Pre-ordered printed titles are excluded from promotions.
  • Due: January 3, 2020
  • ISBN 978-3-030-30883-4
  • Free shipping for individuals worldwide
About this book

The overarching goal of South Africa’s National Development Plan (NDP) is to eliminate poverty, reduce inequality, lower unemployment and increase the labour participation.This book contributes to academic and policy efforts to achieve these NDP goals. We establish that the coal, metal ores and the platinum group commodity sectors will underpin the mining as a “sunrise” industry. The export-led growth strategy is necessary for intensive employment creation but must be complemented by other micro, macroeconomic and industrial policies. A strategy of minerals beneficiation is important for intensive employment creation. Accelerated land reform is a supply side or structural reform policy intervention tool aimed at increasing potential output, changing ownership patterns in the economy, increasing entrepreneurship, labour absorption, economic inclusion and lowering income inequality. Evidence shows that the balance sheet channel, commodity price booms and busts are intricately linked with the exchange rate dynamics, policy uncertainty, confidence and the effects of droughts (also symptoms of climate change). Productivity and investment growth shocks matter for output, employment and price stability. Evidence indicates that nominal GDP growth above 10 percent and keeping inflation within the target band leads to significant increase in employment and decline in unemployment, without inflationary pressures, especially when inflation is below 4.5 percent. To operationalise the NDP targets, align and co-ordinate policies, the South African Reserve Bank (SARB) mandate can be expanded to include maximum employment. This must be complemented by lowering the inflation target band, adjusting the financial regulatory, macro-prudential and monetary policy frameworks. This will enhance the conduct and credibility of monetary and financial stability policies to achieve the set objectives. These objectives make policy co-ordination pertinent and binding.


About the authors

Nombulelo Gumata is an economist and has co-authored several books in the areas of international finance and macroeconomics, macro-prudential tools and financial stability, labour, monetary and fiscal policy.

Eliphas Ndou is an economist at the SARB and has authored books which cover areas in international finance, macroeconomics, microeconomics, monetary, labour and public economics, time-series econometrics, banking regulation and macro-prudential policy. 


Table of contents (31 chapters)

Table of contents (31 chapters)
  • Introduction

    Pages 1-41

    Gumata, Nombulelo (et al.)

  • Does the Consideration of Nominal Wage Growth Imply a High Level of Inflation Inertia or Persistence Compared to Consumer Price Inflation?

    Pages 45-70

    Gumata, Nombulelo (et al.)

  • Wage and Consumer Price Inflation During Exchange Rate Appreciation and Depreciation Episodes

    Pages 71-88

    Gumata, Nombulelo (et al.)

  • An Evaluation of How the Inflation Targeting Framework Has Performed in South Africa

    Pages 91-115

    Gumata, Nombulelo (et al.)

  • Is There a Case for Nominal GDP Growth Targeting in South Africa and Abandoning Inflation Targeting?

    Pages 117-133

    Gumata, Nombulelo (et al.)

Buy this book

eBook $89.00
price for USA in USD (gross)
  • ISBN 978-3-030-30884-1
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $119.99
price for USA in USD
  • Customers within the U.S. and Canada please contact Customer Service at +1-800-777-4643, Latin America please contact us at +1-212-460-1500 (24 hours a day, 7 days a week). Pre-ordered printed titles are excluded from promotions.
  • Due: January 3, 2020
  • ISBN 978-3-030-30883-4
  • Free shipping for individuals worldwide
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Bibliographic Information

Bibliographic Information
Book Title
Accelerated Land Reform, Mining, Growth, Unemployment and Inequality in South Africa
Book Subtitle
A Case for Bold Supply Side Policy Interventions
Authors
Copyright
2019
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-30884-1
DOI
10.1007/978-3-030-30884-1
Hardcover ISBN
978-3-030-30883-4
Edition Number
1
Number of Pages
LXII, 642
Number of Illustrations
387 b/w illustrations
Topics