Volume 11 Number 4 Year - 2017
Number of articles: 15
THE DYNAMICS OF TRADE OPENNESS IN SOUTH AFRICA: AN EXPLORATORY REVIEW
Authors: Malefa Rose Malefane, Nicholas Mbaya Odhiambo
Abstract: Although there is no unanimous consensus on how trade openness affects different economies, the debate around trade openness has received considerable attention in previous studies. In the light of the emerging debates on different aspects of trade openness, this article aims at exploring the dynamics of trade openness in South Africa. Using an exploratory review approach, this article traces the origins of trade openness in South Africa, covering the country's import substitution regime and the export promotion regime. The findings of this study reveal that South Africa has been economically reformed from an inward-oriented import substitution trade regime into a more open, export-oriented trade regime. However, given the current challenge of fluctuating trade openness in South Africa, the country could in the long-term, seek the expansion of its bilateral trade in the sub-Saharan African region. This could be done by making provisions in South Africa's trade policy that aim at deepening regional trade.
Keywords: trade openness, trade policy reforms, import substitution, export promotion, South Africa
Article info: pp. 887-902
Recieved: 15.08.2017  Accepted: 18.10.2017  UDC: 339.5   Downloads: 166