Public lecture by Prof Stefan Dercon

Prof Dercon’s Online Public Lecture, titled “South Africa’s Gamble on Economic Development and Inclusion, then and now”, was organised by Economic Research Southern Africa in collaboration with Centre for the Study of African Economies (CSAE) and the University of Pretoria.

Professor Dercon is the author of “Gambling on Development: how some countries win and others lose“, where he explores how the elite class influences the development trajectory of developing countries. He is a distinguished economist with extensive experience doing research and advising governments in Africa on economic matters.

Some of the questions he examines in his recent research and policy advice focus on the interplay between politics, economics and development, and the role of elite groups, defined as those with power and influence in politics, business, civil society and media. Questions addressed include: How do economic and political elites shape policies, institutions, and investment decisions? How does a development bargain, a political settlement that puts development and growth central, emerge? How does it benefit elites and the broader population? Why does it stick in some countries and others it cannot be achieved?

In South Africa’s complex economic, social and political environment, his work provides practical strategies for resilience and inclusive growth, aligning with the country’s policy goals. In his lecture, he discusses the subtle interplay between elites and development in South Africa, and what it means for growth and development. Building on examples from other countries, he provides insights and realistic strategies for policymakers and practitioners to challenge as well as work with entrenched power structures for growth and more equitable development outcomes.