The Main Macroeconomic Drivers of Economic Growth in the Western Cape
This paper examines the key macroeconomic factors that contribute to economic growth in the Western Cape using time series data from 1995 to 2022. The study adopts the error correction model to investigate both the long-run and the short-run relationship between certain macroeconomic variables and real GDP per capita. The empirical results show that gross fixed capital formation, multifactor productivity, international trade, and population growth are positively associated with real GDP per capita in the Western Cape.
A wealth of knowledge on doing business in the Western Cape
At Wesgro, it is our mission to provide you with all the information you need about Cape Town and the Western Cape to make informed business decisions. We have hundreds of research reports available for you to access via our easy search function.
If you can’t find what you are looking for, we can help by either sourcing the information you need or commissioning the research for you.