Role of Industrialization on Economic Growth: The Experience of Senegal (1960-2017)

Ndiaya, Cisse; Lv, Kangjuan

doi:10.4236/ajibm.2018.810137

Cited by 43 publications

(45 citation statements)

References 7 publications

(6 reference statements)

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“…At the moment, many other countries were already practicing import substitution policies (ISP). The ISP was used as a shield over the serious BOP 3 deficit that occurred during the period while step by step isolation process has been initialized to segregate the domestic economy from the outside market forces [24,15,16,17]. As an initiative, the government introduced a 10 years plan (1958)(1959)(1960)(1961)(1962)(1963)(1964)(1965)(1966)(1967)(1968) to promote import substitute industrialization under the private-public partnership.…”

Section: Import-substitution Industrialization 1959 -1965mentioning

confidence: 99%

“…The 'old school of thought' was significantly specifying the need for structural transformation of the developing economies to achieve rapid economic growth and development with the movement of labor from traditional primary agriculture to modern industry sector as their key recommendation [2]. Said by Kaldor (1967); [3] in Kaldor's Law, the industry sector holds the highest potential productivity growth and positive externalities hence right policies towards the industry sector could power up and transform an economy into a progressive one [3].…”

Section: Introductionmentioning

confidence: 99%

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Development through Industrialization: A Literature Review of Policies and Issues in Sri Lankan Industrial Sector

Wijenayake¹

2021

SAJSSE

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According to many real-world examples and theories, the process of industrialization has been recognized as an engine of growth. Many economies which followed the industrialization-led transition have benefitted from rapid and accelerated economic growths with the support of export promotion, high trade openness, economic liberalization, and improved business climate. The ideology has been firstly followed by the countries in the European region and showed impressive results in economic growth and development. Thus, many Asian countries have been encouraged to follow up the industrial transformation after the 1990s. As a result, Asian countries like Japan, Singapore, Korea, China, and India have shown impressive performances in economic growth and development afterward. However, in the Sri Lankan context, the industry sector has appeared in the economy nearly for a century and several important eras in industrial sector development were followed. However, it is doubtable that whether Sri Lanka has gained actual benefits through that industrial transformation or utilization of policies. Therefore, this article mainly focuses on providing a clear outline of past industrial policies used in the Sri Lankan economy, clearly positioning the current performance of the industrial sector in Sri Lanka, and identifying the major issues in the current industry sector with the help of valid literature and secondary data. Accordingly, many previous studies have suggested that political and policy instability, lack of infrastructure, lack of credit and financial facilities, lack of labor and stagnated productivity, etc. are the key issues in the current industry sector. Several possible recommendations to overcome these issues have been through literature to curb the negative impact of those adverse components on the industry sector development like ensuring corruption-free political and social background, stabilizing macroeconomic variables, addressing skill gaps of the workforce, transparently managing tax system, etc.

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Section: Import-substitution Industrialization 1959 -1965mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Development through Industrialization: A Literature Review of Policies and Issues in Sri Lankan Industrial Sector

Wijenayake¹

2021

SAJSSE

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“…The industrial sector can stimulate the creation of jobs, investment and innovation that increase productivity. Despite this sector's significant contribution to economic growth, Ndiaya and Lv (2018) argued that there is still a long way to go before the complete impact could be realized. Empirical evidence has supported the notion that an increase in industrialization or share of manufacturing in the economy will promote economic growth (e.g.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Variations in economic growth across states in Malaysia: an exploratory analysis

Yusof

Kalirajan

2020

JES

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PurposeThe study contributes to the aim of regional development policy in reducing regional disparities, by examining the spatial balance in socioeconomic development across the states of Malaysia based on composite development index (CDI). Besides, the study has attempted to understand the issues in the development gaps across Malaysian states by evaluating the factors that explain the variation in economic growthDesign/methodology/approachThis study uses three-stage least squares (3SLS) and bootstrap sampling and estimation techniques to examine the factors that explain the variations in the growth of development across the states in Malaysia. The analysis involves 13 states in Malaysia (Johor, Melaka, Negeri Sembilan, Pulau Pinang, Perak, Perlis, Selangor, Kedah, Kelantan, Pahang, Terengganu, Sabah and Sarawak) from 2005 to 2015.FindingsThe pattern in the spatial socioeconomic imbalance demonstrates a decreasing trend. However, the development index reveals that the performance of less developed states remained behind that of the developed states. The significant factors in explaining the variation in growth across the Malaysian states are relating to agriculture, manufacturing, human capital, population growth, Chinese ethnicity, institutional factors and natural resources.Research limitations/implicationsThe authors focused on Malaysian states over the period between 2005 and 2015. The authors encountered some limitations in obtaining relevant data such as international factors and technological change that might also explain the variation in economic growth as the data on these variables are not reported at the state level. Moreover, the data on GSDP by sector was only available from the year 2005. Second, the study is based on secondary data. Future studies might examine the factors that contribute to the development gap across Malaysian states through interviews or questionnaires and compare the findings with the existing results. Despite its limitations, this study contributes to the existing literature that emphasizes on spatial balance of socioeconomic in a developing country, focusing on Malaysian states.Practical implicationsThese findings provide guidance for policymakers by understanding key potential areas to reduce the disparity in economic growth across Malaysian states by understanding their impact on the growth.Originality/valueThis study employs different method of 3SLS and bootstrap sampling and estimation techniques in examining the factors that explain the variations in the growth of development across the states in Malaysia.

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“…The industrial sector experienced a peak of success until 1997, namely at the beginning of the economic crisis, after the crisis occurred the condition of the industrial sector had not been able to return to its original state. The decline in the performance of the industrial sector worries the economy considering the role of the industrial sector in promoting economic growth, poverty alleviation, and job creation to reduce high levels of unemployment (Ndiaya and Lv, 2018).…”

Section: Introductionmentioning

confidence: 99%

Oil Price Crisis and Bankruptcy Risk

Putra

Nur

Putra

2021

IJEEP

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This research aims to examine the effect of the oil price crisis on bankruptcy risk. The sample consists of 9 oil and gas companies listed on the Indonesian Stock Exchange 2013-2019. The analysis method uses fixed-effect regression. The result shows that the oil price crisis increases bankruptcy risk, especially for companies with higher leverage. Furthermore, the oil price crisis reduces market value for companies with higher bankruptcy risk. It indicates that the oil price crisis brings performance for oil and gas companies to generate revenue, earnings, and cash flow that leads companies to insolvency condition.

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Role of Industrialization on Economic Growth: The Experience of Senegal (1960-2017)

Cited by 43 publications

References 7 publications

Development through Industrialization: A Literature Review of Policies and Issues in Sri Lankan Industrial Sector

Development through Industrialization: A Literature Review of Policies and Issues in Sri Lankan Industrial Sector

Variations in economic growth across states in Malaysia: an exploratory analysis

Oil Price Crisis and Bankruptcy Risk

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