01727cas a2200241 a 4500 AALejournalIMF000919 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451943948 1018-5941 BD-DhAAL BD-DhAAL Bayoumi, Tamim. Output, Employment and Financial Sanctions in South Africa / Tamim Bayoumi. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The effects of the marked slowdown in the growth of the capital stock in South Africa since 1985, associated with political uncertainty and financial sanctions, and future growth prospects are quantified using a modified version of the Lewis development model. This is done by estimating production functions for the nonprimary and mining sectors of the South African economy involving skilled (white) labor, unskilled (nonwhite) labor and capital. It is concluded that each 1 percent change in the growth rata of the capital stock leads to at 0.8 percent change in output growth, and hence the fall in investment since 1985 has lead to significant falls in growth, employment and real wages. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1990/113 Full text available on IMF http://elibrary.imf.org/view/journals/001/1990/113/001.1990.issue-113-en.xml IMF e-Library