How does globalisation affect income distribution in South Africa ?
Date
2002
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University of the Free State, Bloemfontein, ZA
Abstract
This paper evaluates the impact of globalisation on the domestic South African economy (1993 – 2001). With a Gini coefficient of 0.593 (World Bank 2000a) South Africa has one of the most unequal income distributions in the world. South Africa has experienced increased capital flows during this time. Unfortunately, these were in the form of portfolio investment rather than much-needed direct investment. There is no indication that increased capital flows have contributed to economic growth or improved the living conditions of average South Africans. Globalisation did not succeed in creating jobs.
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Keywords
GLOBALIZATION, INCOME DISTRIBUTION, DOMESTIC MARKET, EMPLOYMENT CREATION, INDUSTRIAL POLICY, ECONOMIC GROWTH, TRADE LIBERALIZATION, MACROECONOMICS, SOUTH AFRICA, SOUTH OF SAHARA