The post-apartheid developmental state of South Africa had a challenge of turning around an economy that was on deficit which it inherited in 1994, to a positive growth that will be sustainable and shared. The process followed in creating a sustainable economic development was first establishing a constitutional democratic government which was constituted in terms of the provisions of the Constitution of the Republic of South Africa, 1996, as three equal spheres of government, viz: the national, provincial and local spheres of government. Initiatives on innovative economic development become a reconstruction programme not only of the national and provincial spheres of government, but also of the local sphere of government which is closest to the people it governs and deliver municipal goods and services to. For an example, section 152 (1) (c) of the Constitution of the Republic of South Africa, 1996, provides that the local sphere of government which is constituted by 283 wall-to-wall municipalities must “improve social and economic development” of the people. Out of the 283 municipalities, 6 are metropolitan municipalities, and are the: City of Cape Town, City of Johannesburg, City of Tshwane, Ekurhuleni, Ethekwini, and Nelson Mandela Bay Municipality. This research project is limited to the City of Cape Town (CCT) and the Nelson Mandela Bay Municipalities (NMBM). In the second process, a number of legislations and policies providing for external mechanisms to be used to improve local economic development (LED) in an inclusive, shared and equitable manner were introduced. Policies that were introduced by the democratic government and serve as policy directive for economic development are: the Reconstruction and Development Programme (RDP) of 1994; the Growth, Employment and Redistribution (GEAR) of 1996; and the Accelerated and Shared Growth Initiative of South Africa (ASGISA) of 2006. The relevant legislations to the local sphere of government which were introduced and provided for the appropriate mechanism for enabling sustainable growth of local economies by developmental local government in partnerships with other stakeholders such as private sector and civil society movements are: the Local Government: Municipal Systems Act, 2000 (Act 32 of 2000); Municipal Service Policy of 2000; Guidelines on Municipal Service Partnerships of 2006-2010; and the National Framework for Local Economic Development in South Africa (NFLED) of 2006-2010. The above xviii legislations provide the following external mechanisms to improve local economic development in municipal areas, viz: public-private partnerships; public-public partnerships, and public-community partnerships. This research project is about the first external mechanism which is the public-private partnerships (PPPs) to enable municipalities to improve local economies that provide for job creations and employment for the local inhabitants. According to the National Treasury Regulation 16 (2004:1), PPP means a “commercial transaction between an institution, for example a metropolitan government, and a private party in terms of which: 1. The private party either performs an institutional function on behalf of the institution [in this regard a metropolitan government] for a specified or indefinite period or acquires the use of a state property for its own commercial purposes for a specified or indefinite period. 2. The private party receives a benefit for performing the function or by utilising state property, either by way of compensation from a revenue fund, or by charges or fees collected by the private party from users or customers of a service provided for them; or a combination of such compensation and such fees”. The first goal of this research project is to develop the most appropriate public-private partnership model for South African metropolitan government with special reference to the City of Cape Town (CCT) and the Nelson Mandela Bay Municipality (NMBM) in enabling and guiding them to improve and sustain local economic development (LED) in their respective areas of jurisdiction. The application of public-private partnerships (PPPs) as a policy strategy to achieve local economic development (LED) in CCT and NMBM was investigated, in order to determine whether these activities can be improved. Followed is the development of a conceptual framework for optimal PPP implementation in order to improve local economic development in the CCT and NMBM and other metropolitan and municipal areas in South Africa. A more appropriate PPP model called the Participatory Development Systems Model (PDSM) has been constructed for this purpose from a number of sources and proven good practices both locally in South Africa and internationally. The PDSM model uses the strategic prioritisation and management by a municipality of the integrated development of physical, economic, human and social capital in its region in a more participatory way, as a point of departure for PPPs. The PDSM model for PPPs also emphasises consistent systematic assessment of these strategies against the strategic LED goals of the municipality concerned in order to ensure that lessons are learnt from these experiences and used to refine or revise future LED and PPP strategies accordingly. This thesis makes an original contribution to the existing body of knowledge about the promotion of LED through PPPs in metropolitan municipalities in South Africa and elsewhere, by conceptualising PPPs in a clear and coherent way as an integrated dimension of strategic management processes in municipalities that need to be implemented in a more participatory way in order to achieve the overall strategic goal of sustainable LED.

Poverty is generally acknowledged as one of the most serious problems facing post-apartheid South Africa. The biggest challenge facing South Africa localities today is their ability to cope with alarmingly high levels of unemployment that are severely retarding both economic growth and poverty. The growth of the poverty in South Africa increases the spread of poverty in communities in which the cycle of their poverty can be passed onto the next generation if not well addressed. South Africa is characterised by inequitable growth and development, a high degree of poverty, increasing demands and limited resources and challenge of integration. In order to fight poverty the South African government has introduced mechanisms and plans to alleviate poverty and to monitor and evaluate the impact of their policies and programmes on reduction of poverty, the government has prioritized poverty alleviation in its development agenda. To fight poverty the South African government introduced a well planned and coordinated programme known an Integrated and Development programme (IDP) with its main purpose that is to enhance service delivery and fight poverty through an integrated and aligned approach between different role players and stakeholders. The IDP seeks to promote integration by balancing the social, economic and ecological pillars of sustainability without compromising the institutional capacity required in the implementation.

This research project is about the “Factors Affecting the impact of Black Economic Empowerment strategies in enhancing previously disadvantaged beneficiaries in Mnquma Local Municipality.” The purpose is to examine the challenges faced by previously disadvantaged beneficiaries so as to emerge with new innovative BEE mechanisms that can be implemented to improve the situation faced by beneficiaries for the better. To achieve this objective, it was necessary to study the iterature of “Black Economic Empowerment” which is part of the Local Economic Development initiatives. In order to attain the main objective of the study and also to address the research problem face to face interviews were conducted with previously disadvantaged beneficiaries, Local Economic Development officials and councillors from five different wards of Mnquma Local Municipality. The literature review and the interviews helped one to come up with the recommendations to be adopted in order to remedy the situation of the beneficiaries. These recommendations will, hopefully, be of assistance to Mnquma Local Municipality. Findings of this study indicate that challenges faced by previously disadvantaged beneficiaries include: fronting, lack of finance, skills shortage like technical, management, budgeting and saving skills, absence of training workshops, and lack of support on SMMEs development as well as poor implementation of BEE policy by Local Economic Development Unit. The aforesaid challenges have negative effects on the implementation of BEE strategies which adversely affect the beneficiaries. Here are some of the recommendations made in this regard: support and assistance for previously disadvantaged beneficiaries like financial assistance, Khula financial schemes, bank loans, training and workshops, establishment of agricultural projects as well as assistance on coordination of co-operatives initiatives. Other recommendations provide possible solutions to these problems: corruption, nepotism and cadreship deployment. In order to act against these transgressions the following suggestions have been made in the study: containment of fronting, development of heritage and historical sites for tourists’ purposes, recommendation on BEE management strategies and also recommendation on business registration and licensing. The study concludes that if the Mnquma Local Municipality can execute all the proposed recommendations, all the factors raised as the stumbling block towards the success and beneficiary of the previously disadvantaged beneficiaries would be resolved.

The study arose from a research issue that is both practical and theoretical. The apparent challenges of a stakeholder management nature in the execution of urban development projects in South Africa led to the conception of the study. However, the most compelling need for the study was the theoretical gap – in the urban development theory, in the projects theory, and particularly in the stakeholder management theory – on the management of stakeholders in the South African urban development projects. As a result, the value of the study is both managerial and scholarly. The urban development concept is understood to be referring to the development of urban areas for the purpose of improving the quality of life in the cities, and the development of the infrastructure to enable economic growth. Urban development projects, as vehicles for accomplishing urban development, are important for a newly industrialised economy (NIE) like South Africa. Also, as a result of the political past – in the form of a systematic preferential development based on racial segregation by the previous government, and the two decades of subjection of South Africa to economic and cultural isolation by the international community – South Africa has a huge backlog with regard to the two general purposes of urban development: social progress and economic progress. Consequently, urban development projects in South Africa are very critical and important, particularly for geopolitical and socio-economic reasons. Judging by the extensive negative media coverage, many of the South African urban development projects demonstrate poor stakeholder management. The list of urban development projects that have experienced stakeholder related challenges in South Africa is endless: the Johannesburg BRT project, the Gauteng Freeway Improvement project, the Transnet multi-product pipeline-construction project, the Chapman’s Peak toll-road project, the Kusile and Medupi power stations construction projects, are some examples. The project management profession and body of knowledge view stakeholder management in a serious light, actually a failure in adequately implementing stakeholder management in a project is tantamount to a failure of the project itself. There is also a consensus among numerous researchers that there is a general lack of knowledge for project managers on how to manage stakeholders, particularly external stakeholders. Stakeholder management is a poorly understood and, usually a very badly implemented project management discipline. Managing projects in Africa, and by inference in South Africa, can be particularly complex – given the involvement of multiple stakeholders and their historical, geopolitical, economic relationships, and cultural differences. The study set out to develop a framework to improve the management of stakeholders in urban development projects – by investigating the critical success factors that have an influence on stakeholder management success in urban development projects in South Africa. This study is important primarily because there seems to be no previous research conducted on this important project management discipline, stakeholder management of urban development projects; and there seems to be a neglect of stakeholder management duties by urban development projects agencies, and by inference, projects practitioners in South Africa. A theoretical space was created for this study in the fraternal literature of previous studies on critical success factors and/or stakeholder management in construction projects – as there seem to be none undertaken in the urban development environment, particularly in the South African context.

In 2008, the global economy went into recession. Millions of jobs were lost, confidence in the financial markets fell and billions of dollars were lost by investors. Prior to the onset of the recession, the major economies of the world (USA, and Western Europe) had experienced a period of economic boom and expansion. Austrian Business Cycle Theory proposes that the roots of the current financial crisis and recessions in general, are found the actions of central banks through credit expansion and manipulation of interest rates. Central banks manipulate interest rates causing them to fall below the natural level, leading to credit expansion and malinvestments. Austrian Business Cycle Theory is based in capital theory. Capital theory incorporates the elements of time and money and allows the setting of a microeconomic foundation. The theory recognises that investment is not an aggregate (as do Keynesians and Monetarists). Opposition to empirical testing by Austrian economists has meant that few statistical analyses of Austrian Business Cycle Theory have been carried out. The apprehension toward empirical testing of Austrian Business Cycle Theory stems from some Austrian economists who argue that human behaviour cannot be captured in statistical terms. Recently, some Austrian economists have begun to do empirical research Austrian Business Cycle Theory and the thesis adds to that growing field. The thesis tests empirically for ABCT in South Africa by using Vector Error Correction Model and Granger causality techniques and the results are as follows: The Vector Error Correction Model shows that any disequilibrium adjustment in the structural equations influences correction mostly through changes in Manufacturing. The disequilibrium adjustment process for Investment is also found to have statistical significance. The results propose that Investment in South Africa is not inert. The Granger causality tests show that credit expansion causes interest rates to be artificially lowered leading to mal-investments. The main policy recommendation is that business cycles can be prevented by not manipulating interest rates and by not increasing credit availability.

Xenophobia became known as manifest of relations and perceptions of an "in–group" towards an "out-group", including a fear of losing identity, suspicion of its activities, aggressions, and desire to eliminate its presence to secure a presumed purity. This study aims to address the socio-economic impacts of xenophobia in South Africa. As a matter of fact, the 2008 xenophobia attacks amongst others were violent and acted as visible wake-up call to the country to focus attention on the reality of human migration. South African democratic constitution recognises immigration, and gives multiple reasons why nationals from other countries have to migrate to settle in South Africa. This study was grounded within the field of Development studies and undertook a case study of investigating the socio- economic impacts of xenophobia in Nelson Mandela Bay Metropole (NMBM) as a case study. The study employed the use of semi- structured interviews whereby a questionnaire was used to guide the researcher in the interview process. A total of 40 officials were interviewed, ranging from governmental department through to civil societies to private immigration consultants and immigrants in South Africa, in order to avoid the generation of biases. The data obtained from respondents were presented, analysed, and discussed. From the data collected, it was possible to single out the impacts of xenophobia in NMBM. Some of the consequences generated from the fact that the community need more awareness programs, the local and national government need to capacitate the citizens to create sustainable jobs and the DoHA‟s activities greatly relegate immigrants to the backyard. Based on the study findings, the main recommendations offered to NMBM was to create a forum to advice the DoHA to channel efforts into managing migration issues sustainably rather than "stopping" it. Furthermore to catalyse Civil Society and NGOs to initiate support mechanisms to hold government accountable. This will greatly provide a perfect platform for development.

This dissertation investigates the effects of the financial crisis on the South African economy. In order to do this, an index which describes the financial conditions of the South African economy is constructed and computed. The index indicates that domestic South African financial conditions have deteriorated substantially during the period under study and so the study investigates how this has impacted on the country’s economic growth. A VAR model with South African variables is specified and used to assess the quantitative effects of the financial crisis on South African real GDP growth. Results suggest that the South African economy was not significantly affected by the crisis, but economic growth was slowed down and may still grow substantially slower in the next few years due to the financial crisis. These results corroborate the theoretical predictions and are also supported by previous studies.

The rate of unemployment in South Africa remains stubbornly high despite vastly improved macroeconomic fundamentals and relatively high rates of economic growth for most of the post-1994 democratic era. Employment growth was much weaker than might have been expected given the improved economic outlook. This thesis investigates how the sectoral employment intensity of output growth in the eight non-agricultural sectors of the South African economy has evolved from 2000 to 2012, with a view to identifying key growth sectors that are employment intensive. An econometric model of the demand for labour is used to estimate employment elasticities in the major Standard Industrial Classification (SIC) divisions of the economy. The results suggest that aggregate employment and economic growth diverged and that jobless growth occurred in South Africa during the period under review. South Africa has become less labour intensive and more capital intensive, reflecting a structural adjustment that has weakened the employment-growth relationship. At the sectoral level, the results suggest the presence of a long-run relationship between employment and growth in finance and business services, manufacturing, transport and the utilities sectors. In particular, the results suggest that the tertiary sector performed best in terms of the employment intensity of output growth. This reflects the changing structure of the economy and the nature of employment shifting away from the primary towards the tertiary sectors. Investment in the tertiary sector may help to foster new employment opportunities and assist in improving the overall employment intensity of output growth in South Africa. / Economics / D. Litt. et Phil. (Economics)

MA (Political Science) / Department of Development Studies / The 21st century has witnessed intensified ties between China and South Africa both bilaterally and multilaterally under BRICS. South Africa-China relations have been amplified by the quest to strengthen South-South cooperation as opposed to depending on the West for everything. In this research the focus is on examining the political and economic relations between South Africa and China. The sustainability of the China-South Africa engagement in the areas of economy and politics will be examined. Since South Africa is the weaker partner economically in her relationship with China, will the relationship leave South Africa disadvantaged or will the South African economy benefit from the bilateral relations? On the political level, China’s policy on Tibet and the One-China policy may have a bearing on South Africa’s image in the world. The research is designed to explore the political and economic dimensions of the relationship. The study derives insights from the interdependence theory which argues that we live in a world of interdependence which has altered the concept of power which is at the heart of the realist theory. Interdependence is also defined as mutual dependence among nations and reciprocal effects among states. The study utilizes a qualitative approach where desk research involving primary and secondary sources are used. Fundamentally the study argues that the relationship is mutually beneficial albeit unequal. China is a major power with the second largest economy in the world and South Africa is a regional power with a stagnating economy. China needs South Africa in her Africa strategy due to the fact that South Africa boasts the largest and most advanced economy on the African continent and this makes the country a convenient doorway into Africa. South Africa on the other hand needs Chinese Foreign Direct Investment and trade to speed up growth and grow the black middle class which was disadvantaged during the apartheid years. In 2015 the two countries signed 26 agreements worth 94 billion rand when the Chinese President Xi Jinping paid an official visit to South Africa which will be mutually beneficial to both parties.

A Research Report submitted in partial fulfilment of the Degree of Master of Commerce (Economics/Economic Science) in the School of Economic and Business Sciences, University of the Witwatersrand, September 2018 / This study investigates the determinants of household savings in South Africa using panel data estimation techniques and National Income Dynamics Study (NIDS) data for the period 2008-2015. Results show that household savings habits in South Africa are strongly driven by sociodemographic factors such as income, relative income, asset ownership and white population group representation. Whereas household size, home ownership, household expenditure and black population group representation remain plausible arguments for household dissaving in South Africa. To some extent, these findings imply that strategies to increase household savings in South Africa should improve the distribution of income and employment among the population. There is also a need for an in-depth analysis as to why and how the country’s black population can be encouraged to improve on household savings. / XL2019