The Effects of Public Investment in the Green and Care Economies and Public Infrastructure in South Africa

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dc.contributor.authorOnaran, Ozlem
dc.contributor.authorOyvat, Cem
dc.date.accessioned2024-08-26T11:38:41Z
dc.date.available2024-08-26T11:38:41Z
dc.date.issued2024
dc.departmentSouthern Centre for Inequality Studies SCIS
dc.description.abstractThis paper argues that a comprehensive mix of policy tools is essential to catalyse the urgent public investment required to address South Africa's growth, inequality, care, and climate change crises. According to the National Treasury, from 2010 to 2019, South Africa's growth averaged only 1.75% annually, a figure further reduced when factoring in the COVID-19-impacted years of 2020 and 2021. Fiscal policy involves decisions regarding government spending levels, tax revenue generation, and borrowing. Since 2013, a fiscal consolidation strategy has been in place to curb public spending growth, resulting in decreased expenditures on public services due to rising debt service costs. This paper argues that increasing public spending on the care economy, green economy, and public infrastructure would boost GDP and employment, thereby altering public debt/GDP ratios. It advocates expansionary fiscal policies, clear development targets, and coordinated fiscal, monetary, industrial, labour, and social policies.
dc.description.sponsorshipHeinrich Boll Foundation Cape Town
dc.description.submitterTM2024
dc.facultyFaculty of Commerce, Law and Management
dc.identifier.citationOnaran, Ozlem and Oyvat, Cem. 2024 The Effects of Public Investment in the Green and Care Economies and Public Infrastructure in South Africa, Public Economy Project. SCIS Working Paper 67 g
dc.identifier.urihttps://hdl.handle.net/10539/40302
dc.language.isoen
dc.relation.ispartofseriesPublic Economy Project SCIS Working Paper; 67
dc.rightsAuthor(s) retain the right to self-archive the final published version or parts of it on an author’s personal website or a not for profit server or repository associated with the institution that employs the author(s).
dc.rights.holderUniversity of the Witwatersrand, Johannesburg
dc.schoolSchool of Economics and Finance
dc.subjectFiscal Policy
dc.subjectFiscal Multipliers
dc.subjectGreen Economy
dc.subjectCare Economy
dc.subjectPublic Infrastructure
dc.subjectSouth Africa
dc.subjectPublic Expenditure
dc.subject.otherSDG-10: Reduced inequalities
dc.titleThe Effects of Public Investment in the Green and Care Economies and Public Infrastructure in South Africa
dc.typeWorking Paper
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