Human rights, political instability and investment in South Africa: a note

This paper extends the model of Fielding [J. Dev. Econ. 58 (1999) 405.], wh ich is designed to explain changes in investment in South Africa during the Apartheid period, by allowing a role for indicators of political instabili ty and political and civil rights, as measured by Fedderke et al. [Fedderke , J., de Kadt, R., Luiz, J., 1999. Indicators of Political Liberty, Propert y Rights and Political Instability in South Africa: 1935-97, ERSA Working P aper 4, University of the Witwatersrand. The conclusions based on estimatio n of the original model are robust to the inclusion of the political factor s, but these factors do explain some of the variation in investment over ti me. (C) 2002 Elsevier Science B.V. All rights reserved.