Philippe Burger

Maria Delgado Coelho

Justin Tyson

The paper investigates the impact of the global financial crisis on public-private partnerships (PPPs) and the circumstances under which providing support to new and existing projects is justified. Based on country evidence, cost of and access to finance are found to be the main channels of transmission of the financial crisis, affecting in particular pipeline PPP projects. Possible measures to help PPPs during the crisis include contract extensions, output-based subsidies, revenue enhancements and step-in rights. To limit government's exposure to risk, while preserving private partner's efficiency incentives, intervention measures should be consistent with the wider fiscal policy stance, be contingent on specific circumstances, and be adequately costed and budgeted. Governments should be compensated for taking on additional risk.

The Effects of the Financial Crisis on Public-Private Partnerships

Lochner Marais

Deirdre van Rooyen

Mining has played a key role in the growth of many towns in South Africa. This growth has been accompanied by a proliferation of informal settlements, by pressure to provide basic services and by institutional pressures in local government to support mining. Fragile municipal finance, changing social attributes, the pressures of shift-work on mineworkers, the impact on the physical environment and perceived new inequalities between mineworkers, contract workers and original inhabitants have further complicated matters. Mining growth has however also led to substantial local economic benefits to existing business and it has contributed to a mushrooming of new enterprises. While the relationship between mining and economic development at the country level has received adequate attention in existing literature, less is known about the consequences of mining at the local level. This book investigates the local impacts of mining in South Africa, focusing on employment, inequality, housing, business development, worker well-being, governance, municipal finance, planning and the environment. Taking an interdisciplinary approach, Mining and Community in South Africa will be of interest to scholars of South Africa, economic development, labour and industry, politics and planning.

From Small Town to Iron Town

Mining and Community in South Africa

Charl Jooste

Mr.Alfredo Cuevas

Ian C. Stuart

How does the South African government react to changes in its debt position? In investigating the question, this paper estimates fiscal reaction functions using various methods (OLS, VAR, TAR, GMM, State-Space modelling and VECM). The paper finds that since 1946 the South African government has ran a sustainable fiscal policy, by reducing the primary deficit or increasing the surplus in response to rising debt. Looking ahead, the paper considers the use of fiscal reaction functions to forecast the debt/GDP ratio and gauging the likelihood of achieving policy goals with the aid of probabilistic simulations and fan charts.

Fiscal sustainability and the fiscal reaction function for South Africa

Philippe Burger

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