ASGISAAccelerated and Shared Growth Initiative of South Africa
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The economic sectors that ASGISA prioritised included agriculture, mining, tourism, cultural industries, information technologies, clothing and textiles, vehicle manufacturing, aerospace sector, call centres and back office business processes.
ASGISA architects used the methodology of binding constraints in the economy as a way to prioritise interventions that would optimise growth.
As an economic policy framework, ASGISA was underpinned by a sectorally focused industrial policy, with support to the manufacturing sector and broad diversification of the formal economy as the primary focus.
In December 2007, two years after the adoption of ASGISA as government programme, Mbeki lost his grip on the party, and eight months later he was removed from office as the country's president.
Of primary interest is the period of 2000-2013 which represents the era in which both the inflation-targeting regime and the ASGISA programme were adopted.
They also suggest that the outcome of the debate over the role of state assistance may have the greatest effect on the country's capability to meet ASGISA goals.
As recognized by the original ASGISA strategy document, the level and volatility of the real exchange rate undermines the expected profitability and the risk associated with export-related activities.
To implement ASGISA, the state-owned enterprises and the public sector as a whole, working in some instances through public-private partnerships, will make large investments in various sectors to meet the demand for electricity, provide an efficient and competitive logistic infrastructure, expand and modernise the telecoms infrastructure, and satisfy the demand for water.
However appealing the association between growing manufacturing and manufacturing exports and the ASGISA objectives of raising output and employment appear to be, the empirical basis for such a standpoint in South Africa is not yet established.
Each of these selected economic activities embodies different economic characteristics--one's different from each other and different from the objectives set out in ASGISA and the NIS.
None of the other sectors that are proposed for support in ASGISA or the NIS are near as skill-intensive as the PBMR;