Crony capitalist deals and investment in South Africa’s platinum belt: a case study of Anglo American Platinum’s scramble for mining rights, 1995–2019

IF 1.4 3区社会学 Q1 AREA STUDIES

Review of African Political Economy Pub Date : 2022-07-03 DOI:10.1080/03056244.2022.2098009

Musawenkosi Nxele

引用次数: 0

Abstract

ABSTRACT This article analyses how crony capitalism emerges as a solution to maintaining investment in platinum mining. Using a case study of platinum, the analytic narrative exploits the quasi-experimental design provided by the nationalisation of mineral rights to evaluate the relationship between mining investment and crony capitalism. Does the policy have the effects intended? This article argues that the answer is no because of the cronyism between mining capital and politically connected black elites. The institutionalisation of cronyism, coupled with low economic growth and shrinking market-based black economic empowerment opportunities, bolstered and legitimised capture of the state. The system of cronyism produced limited investment and limited black productive capital. Poor mining communities and mine workers have suffered from this cronyism, but have recently organised their power to control the operating environment, or the ‘social licence’ to operate.

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Crony资本家对南非铂带的交易和投资：1995-2019年英美铂业争夺采矿权的案例研究

摘要本文分析了裙带资本主义如何成为维持铂矿投资的解决方案。通过对铂的案例研究，分析叙事利用矿业权国有化提供的准实验设计来评估矿业投资与裙带资本主义之间的关系。该政策是否具有预期效果？这篇文章认为，答案是否定的，因为矿业资本和有政治关系的黑人精英之间任人唯亲。任人唯亲的制度化，加上低经济增长和基于市场的黑人经济赋权机会的减少，支持了对国家的掠夺并使其合法化。任人唯亲制度产生了有限的投资和有限的黑人生产资本。贫穷的采矿社区和矿工一直受到这种任人唯亲的影响，但最近他们组织了自己的权力来控制运营环境，或运营的“社会许可证”。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Review of African Political Economy Multiple-

CiteScore

3.00

自引率

7.70%

发文量

期刊介绍： The Review of African Political Economy (ROAPE) is a refereed journal committed to encouraging high quality research and fostering excellence in the understanding of African political economy. Published quarterly by Routledge, Taylor & Francis Group for the ROAPE international collective it has since 1974 provided radical analysis of trends and issues in Africa. It has paid particular attention to the political economy of inequality, exploitation and oppression, whether driven by global forces or local ones (such as class, race, community and gender), and to materialist interpretations of change in Africa. It has sustained a critical analysis of the nature of power and the state in Africa.