ABSTRACT
South Africa projects many contrasting images. The country represents one of Africa's rare economic success stories. South Africa's demographic patterns have shifted considerably over time, with implications for the country's longer-term growth. At least three distinct phases characterize the country's economic progress since 1960: the period of apartheid expansion 1960–80, a briefer period of the demise of apartheid, and finally the period of post-apartheid growth and recovery 1994–present. South Africa's average growth on a per capita basis was only 2.3% in 1960–80. Estimates of the sources of South Africa's growth suggest that several sharp changes have occurred over the years. The Human Development Index paints another picture of South Africa. Unemployment in South Africa has increased from around 8% in 1980 to over 25% —a figure considerably above that found in other major emerging economies.
