The political economy of middle-income traps: is South Africa in a long-run growth trap? The path to 'bounded populism'

Luiz, John M (2016) The political economy of middle-income traps: is South Africa in a long-run growth trap? The path to 'bounded populism'. South African Journal of Economics, 84 (1). pp. 3-19. ISSN 0038-2280

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Abstract

The current literature on middle-income traps has been dominated by economists who have relied on economic explanations mainly around stages of development and the structural transformation of economies. But there is an equally vigorous literature from political science which speaks to the political economy of transitions. We look at the dynamics of how economic modernisation triggers structural changes with winners and losers and how this is reflected in the polarisation of the political sphere amongst middle-income countries. This paper asks the question of whether South Africa is an archetypical example of a country stuck in a trap and how this has affected the policy choices that it has made. South Africa needs to move up the value chain with a viable value proposition, and this requires a very different policy set and human capital plan.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Business and Management
Depositing User: Stacey Goldup
Date Deposited: 06 Jun 2017 08:43
Last Modified: 06 Jun 2017 08:43
URI: http://sro.sussex.ac.uk/id/eprint/68354
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