Published online by Cambridge University Press: 16 June 2005
The stated economic policy of the African National Congress (ANC) underwent a dramatic shift in the 1990s, away from a soft-left redistributionist position to one much more closely aligned with the policy preferences of the South African business community. To what extent can this shift be attributed to lobbying efforts by that community? The article reviews the development of economic policy by the ANC in the 1990s, and concludes that while business was undoubtedly influential in this process, much of that influence was indirect and derived from two sets of sources: first, the international policy consensus around the neo-liberal reform agenda; and second, indirect signals from ‘the market’ by means of such mechanisms as movements in the value of the currency, and investor and business confidence.
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