Economics Grade 12 Essays pdf download:
DISCUSS IN DETAIL REGIONAL DEVELOPMENT IN SOUTH AFRICA IN TERMS OF THE INTERNATIONAL BENCHMARK CRITERIA.
-Regional development is the establishment of new industries in areas that are underdeveloped in order to create employment and improve the standard of living.
THE INTERNATIONAL BENCHMARK CRITERIA
1. Good governance.
-Regional development strategies should be managed effectively and free of corruption. -Democratic decision making, transparency, financial management and control should be a culture of the organisations. -Projects should be correctly programmed, monitored and evaluated.
-An integrated approach, ensuring that the benefits of one region spill over to other industries and areas.
-This can be in the form of infrastructure or social services.
-Partnerships should be built between central government, local authorities and civil society.
-These partnerships encourages commitment which leads to good results.
4. Provision of resources
-Sufficient resources should be provided in resource-poor areas.
-When infrastructure and human resources are available in the rural areas the business will be attracted to invest there which will lead to economic growth.
-Industries or business established as a result of regional policies should be competitive and not need ongoing financial aid from government.
-This encourages self sufficiency and independence which in turn improves economic growth.
6. Investment in social capital.
-Governments need to improve the quality of education and healthcare in a region.
-Development for people involves providing essential services and goods that improve the living standard of people in a region.
-Examples include food, housing and security
7. Free market orientation
-The government will have to allows the forces of demand and supply to be the ones that regulates the market.
– This can be done by removing barriers that block other businesses from entering the market in order to encourage competition.
-The government should find measures to ensure that we do our economic activity in such a way that we do not harm the environment.
-The use of local resources will also offer the most cost-effective solutions.
-The South African government has entered into several agreements and projects that support development in Southern Africa for the benefit of South Africa.
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