Productivity, Wages and Employment in South Africa's Manufacturing Sector, 1970 - 2002
Working Paper
2004-03
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University of Cape Town
Development Policy Research Unit
University of Cape Town
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Development and Poverty Research Unit Working Paper Development Policy Research Unit Working Paper 04/085
Abstract
This paper investigates the relationship between labour productivity, average real wages and employment in South Africa's manufacturing sector, using cointegrating VAR and VECM econometric techniques. A long-run equilibrium relationship was found between real wages and productivity, with an elasticity of 0,38 indicating that productivity has grown more rapidly than wages.
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Reference:
Wakeford, J. 2004-03. Productivity, Wages and Employment in South Africa's Manufacturing Sector, 1970 - 2002. Development and Poverty Research Unit Working Paper Development Policy Research Unit Working Paper 04/085. University of Cape Town.