The Contribution of Economic Sectors to the Western Cape’s Economic Growth
The paper uses the ordinary least squares (OLS) method to analyse the relationship between economic growth and the three broadly defined economic sectors (primary, secondary and tertiary) in the Western Cape during the period 1995Q2 to 2023Q3. The empirical results show that all three sectors have a statistically significant positive impact on economic growth in the Western Cape. In terms of magnitude, the tertiary sector, which is the services sector of the economy, has the largest impact on gross domestic product (GDP) growth followed by the secondary sector and the primary sector.
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