Why is South Africa Still a Developing Country?

Abstract

Despite the abundance of goods and natural resources that characterize South Africa, and despite the remarkable progress in the field of industry and manufacturing, it is still in the list of developing countries. The aim of this article is to re-examine the causes of this node by studying the basic pillars for the creation of solid economic growth as is the case for all developing countries by looking at the impact of domestic investment, exports and imports on South Africa's economic growth in the short and long term. Our empirical analyses show that imports present the main barrier of prosperity and progress in South Africa.