Comparative Public Finance and Systemic Risk in South Africa:Lessons from the Greek Financial Crisis
Currently, South Africa and Greece rank amongst the five most painful economies in which to live and work.Recession-battered Greece is a country that almost defines economic mismanagement.The prevailing Greek financial collapse accords a mirror to the world when prudent management of a financial system is abandoned.The challenge is that no one is well versed to manage things when the process breaks down.The Greek government had exacerbated the economic decline and pushed the country to the brink of national bankruptcy, bordering on a humanitarian crisis.Experts contemplate whether South Africa is on the same Grecian path towards economic collapse or has it already reached the proverbial tipping-point? This meta-analysis reinterprets evaluations through a new lens.Reflective analysis offers parallels of a pre-Greece financial collapse and the challenges currently facing South Africas economy-disturbing low points, fast increasing debt burden and negative growth plans indicative of an economic implosion.The fiscal iceberg, national power crisis,shortage of coal for power generation, water shortages, collapse of basic services, food (in)security,corruption, political stability and public sector reform are just some of many that could sink South Africas economy.This paper evaluates the sustainability of the Grecian/South African economic linkages and determinants utilising simultaneous equations, proposed structural reforms and its proclivity to navigate a politico-economic trajectory.Insights have been drawn from the literature on the Greek financial crises, to offer an analytical treatment of the Grecian risk contagion for emerging economies such as South Africa.
Debt-burden Financial Bail-out Economic implosion Simultaneous equations
S Balkaran
Faculty of Commerce and Administration,Walter Sisulu University,Private Bag X 1,Mthatha,Eastern Cape Province,South Africa,5117
国际会议
2015 International Conference on Public Administration (11 th)2015(第十一届)公共管理国际会议
印度尼西亚
英文
797-810
2015-12-09（万方平台首次上网日期，不代表论文的发表时间）