Bridging South Africa's second economy

SOURCE: New Agenda
OUTPUT TYPE: Journal Article
PUBLICATION YEAR: 2008
TITLE AUTHOR(S): O.Shisana
KEYWORDS: ECONOMIC GROWTH, POVERTY
DEPARTMENT: Human and Social Capabilities (HSC), Deputy CEO: Research (DCEO_R), Deputy CEO: Research (ERKC)
Print: HSRC Library: shelf number 5152
HANDLE: 20.500.11910/5531

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Abstract

South Africa is a middle-income country with GDP per capita of R97688, comparable to countries such as Turkey and Argentian, but lower than that of its African neighbour, Botswana. This GDP per capita masks mahor income inequalifiers. There are two societies in South Africa; one similar to those found in very highly developed economies, and the other similar to underdeveloped economies. This two-tiered economy poses challenges when planning development. Can those living in the underdeveloped part of South Africa be integrated into the highly-developed economy? To answer this question, it is important to clarify how the South African economy is conceptualised and understand what strategies have been used so far to bridge the gap between these two societies.