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OECD Economic Surveys: South Africa 2008

image of OECD Economic Surveys: South Africa 2008
OECD's first review of South Africa's economy. After a general overview of recent economic developments and programmes, this survey examines key challenges including reforming goods and services markets and realising South Africa's employment potential. This publication includes StatLinks, URLs linking to Excel® spreadsheet versions of tables and graphs.

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Reforming goods and services markets in South Africa

This chapter examines the potential role of competition policy in enhancing long-term productivity growth in South Africa. It begins by analysing recent economic performance both in terms of productivity dynamics and trade competitiveness. Different sets of measures indicate that the level of market concentration, albeit decreasing, has remained relatively high. To a large extent, an excessive monopolisation of the economy is a lasting legacy of the apartheid regime, which manifested itself during the period of forced import substitution. While the authorities primarily emphasise market-oriented responses to overcome these distortions, state interference in the economy remains extensive and is widely perceived as a viable development path. Empirical evidence shows unambiguously, however, that South Africa would reap large benefits from increased domestic and foreign competition.

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