An Employment-Targeted Economic Program for South Africa

`This is an exciting and stimulating work, and one that will leave its mark upon the work of social scientists and policymakers.' -- Lumkile Mondi, Industrial Development Corporation of South Africa; and Presidential Economic Advisory Panel of South Africa `Investment in South Africa is low, real interest rates are high, the employment-intensity of growth has been relatively slow. The "employment-targeted program" advocated in this book seeks to reverse these tendencies by lowering average interest rates and channeling subsidized credit to labor-intensive, pro-poor activities, particularly small-scale agriculture and small and medium-sized enterprises. This is a bold program and by challenging conventional "inflation-targeted" economic policy, the book makes a major contribution to the debate on economic policy in South Africa.' -- Keith B. Griffin, University of California-Riverside, US