Estimates from the Conference Board imply that the most importance contributor to South Africa GDP growth has been capital deepening, followed by growth in the labour force. According to their estimates, the contribution from the quality of the labour force and total factor productivity has been negligible. This is broadly in line with my constant elasticity of supply production function estimates in this paper. World Bank estimates (based on Cobb-Douglas-based decompositions), on the other hand, suggest a stronger role for total factor productivity in driving growth in South Africa.
