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21 Feb 2022

South Africa should design economic policy based on strengths of regions: here’s how

The Conversation

Economists and policy-makers seem to have a blind spot when thinking about how the economy functions and what determines success. Analytical frameworks and government policies consistently neglect the role of space and geography in favour of national averages and sectoral plans. Yet growing evidence from around the world shows the importance of place and location for productivity, growth and development.

Intuitively, it is obvious that economic progress depends on the quality of local skills, capable public institutions, reliable infrastructure, and proximity to markets and suppliers. But just how important are these factors compared with the particular mix of local industries and macro-economic conditions?

Authors

Justin Visagie

Senior Research Specialist, Human Sciences Research Council

Ivan Turok

Distinguished Research Fellow, Human Sciences Research Council

To read the full article online click here

The Conversation

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