Interview with Professor Haroon Bhorat, Professor of Economics, University of Cape Town, South Africa: factors impacting South African economic development and prospects for its National Development Plan

Abstract

This interview focuses on South African economic policies and development. Inequality in South Africa’s post-apartheid economy has had a significant impact on the country’s efforts to strengthen its development. Moreover, issues with the education system have left human capital in dire straits. Overall, trade liberalization has been more positive than negative and South Africa finds itself better positioned for trade with other African countries than larger global economies. Analysis of labor unions reveal that South African wage premiums and the number of unionized workers fall in the mean distribution of OECD countries. The interview concludes with an analysis of the National Development Plan and its capabilities to deliver on its promise.