scholarly journals The Role of Power Generation and Industrial Consumption Uncertainty in De-industrialising Pakistan

2013 ◽  
Vol 52 (4I) ◽  
pp. 517-536
Author(s):  
Bushra Yasmin ◽  
Wajeeha Qamar
Keyword(s):  
Manufacturing Sector ◽  
Developed Countries ◽  
Industrial Sector ◽  
Economic Changes ◽  
Services Sector ◽  
Stage Of Development ◽  
Long Run ◽  
Natural Outcome ◽  
Secular Decline ◽  
The Impact

The term deindustrialisation refers to the process of socio-economic changes taking place due to reduction in the industrial capacity and/or the loss of industrial potential of an economy. This also connotes the secular decline in the share of industrial sector employment as observed in developed countries since 1970s. The secular shift from manufacturing to services sector reflects the impact of discrepancy in productivity growth between the said sectors. A faster rise in productivity in manufacturing sector than in services switches the employment from manufacturing to the services sector, as suggested by Rowthorn and Ramaswamy (1997). Generally, deindustrialisation is considered as the natural outcome of economic development because it involves the transformation from primitive agriculture-based economy to the modern industrial-based. After the establishment of manufacturing sector, the long-run economic growth stimulates an innovation-based economy implying the services sector’s growth [Galor (2005)]. However, the process requires a gradual shift accompanied by allied institutional and infrastructural reforms and the process of deindustrialisation occurs at the later stage of development.

scholarly journals Development of innovation and investment potential of the industrial sector

2019 ◽  
pp. 5-11
Author(s):  
Iryna Anatoliivna Markina ◽  
Serhii Mykolaiovych MARCHYSHYNETS
Keyword(s):  
Economic Development ◽  
Manufacturing Sector ◽  
System Development ◽  
Complex Form ◽  
Decisive Role ◽  
Industrial Sector ◽  
Point Of View ◽  
Investment Policy ◽  
Stage Of Development ◽  
The Impact

Introduction. The main catalyst for effective transformations in the industrial sector of the economy is innovation and investment policy, which aims to increase the potential, namely the capacity of the manufacturing sector of the Ukrainian economy. The innovation and investment potential closely reflect the objectively existing possibility of socio-economic development of the human system. The purpose of the article is to clarify the basic principles and approaches that reflect the innovation and investment potential and the essence of innovation and investment development. Results. The state ideology in the field of innovation and investment policy is considered. A generalization of the concept of “development” of the philosophical point of view is presented. The decisive role of development in understanding the essence of everything is proved. The vector of development in terms of its regressive or progressive manifestation is considered. It is determined that the stages of development are the stages of system change, which include: appearance, upward stage of development, maximal development or maturity, regressive changes or downward stage, disintegration and death. The tendency of differentiation in socio-economic systems is determined. The essence of “becoming” as a stage in the system development is considered. The essence of the system's maturity is revealed. External and internal sources of system development are considered. On the basis of the theoretical generalization, the key properties of the concept of “development” are given: it acts as a form of constant movement forward from simple to complex form; the degree of development is determined by the influence of external and internal factors; the way of development of the system is determined by its basic motives, the degree of recognition by the system of objectively existing reality; development is possible if it’s provided by the quantitative parameters of the end goal; the form of its implementation is cyclical or spiral; analysis of development must be carried out in two directions of research: in the material and spiritual worlds. The definition of “innovation” is given. The essence of scientific and technological progress as a basis of economic development is considered and the vision of leading scientists-economists on this phenomenon is presented. Quantitative estimates of the impact of innovative GDP growth are provided. The quantitative contribution of various factors of economic growth of a market economy is given. Key words: management, enterprise, potential, innovations, investments, innovation and investment develop-ment.

scholarly journals Protectionism and free trade correlation at the turn of the centuries

2018 ◽  
Keyword(s):  
Foreign Trade ◽  
Free Trade ◽  
Manufacturing Sector ◽  
Developed Countries ◽  
Industrial Sector ◽  
State Regulation ◽  
Point Of View ◽  
Theory And Practice ◽  
Stage Of Development ◽  
Consensus Pattern

The article studies the theory and practice of using the most important categories of state regulation of foreign trade – protectionism and free trade. That rational regulation in foreign trade policy can lead to the development of nation economies. The study considers historical aspects of the relevance of protectionism and free trade for different countries and their correlation under the influence of technological progress; underlines the urgency of the protectionism at the present stage of development of the world economy. Such a topicality of protectionism is caused by new phenomena in geopolitics and geo-economics that occurred at the turn of the century. The authors agree with the point of view that has been voiced in the past (by Friedrich Liszt), that free trade is an effective policy for developed countries. For those who do not have a highly developed industrial sector, elements of protectionism to protect the domestic economy remain extremely relevant. The policy that is imposed on the underdeveloped countries by the "Washington Consensus" pattern condemns the latter to a permanent lag. The ideas of protectionism remain topical for post-Soviet countries, where deindustrialization occurred during the quarter of a century, the share of the manufacturing sector in the structure of the national economy dropped sharply, and economic growth rates fell.

Industrial development and unemployment in Nigeria: an ARDL bounds testing approach

2019 ◽  
Vol 46 (1) ◽  
pp. 83-96
Author(s):  
Omobola Adu ◽  
Oghogho Edosomwan ◽  
Abiola Ayopo Babajide ◽  
Felicia Olokoyo
Keyword(s):  
Industrial Development ◽  
Manufacturing Sector ◽  
Industrial Sector ◽  
Bounds Testing ◽  
Content Type ◽  
Services Sector ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Long Run ◽  
Lag Model

Purpose The industrial sector has been identified as one of the means to address the issue of unemployment due to its role in ensuring sustainable development. However, evidence from the Central Bank of Nigeria Statistical Bulletin reveals that the sector lags behind the agricultural and services sector in terms of its contribution to the gross domestic product. In light of this, the purpose of this paper is to ascertain whether the industrial sector development is a veritable tool in addressing the issue of unemployment in the long run for the Nigerian economy. Design/methodology/approach In order to determine whether industrial development is a veritable tool in addressing the issue of unemployment in the long run, the study makes use of the Autoregressive Distributed Lag model. The choice of this method over the commonly used Johansen co-integration approach is that it provides the mechanism to estimate the model in the presence of different order of integration among the macroeconomic variables; it allows us to combine and I(0) and I(1) series, while there is strict assumption of I(1) for all variables under the Johansen approach. Findings The major finding of the paper is that an inverse and elastic relationship exists between industrial output and unemployment. This suggests that the unemployment rate is very sensitive to changes in the industrial sector in Nigeria. Research limitations/implications The major limitation is the availability of recent data to capture recent happenings in the Nigerian economy. Originality/value The paper considers the entire sector encompassed in the industrial sector as opposed to focusing on just the manufacturing sector.

scholarly journals The Long-Run Performance of U.S. Bidding Firms in the Post M&A Period: The Impact of Bid Type, Payment Method and Industry Specialisation

2017 ◽  
Vol 12 (2) ◽  
pp. 230 ◽  
Author(s):  
George Giannopoulos ◽  
Andrew Holt ◽  
Ehsan Khansalar ◽  
Patrick Mogoya
Keyword(s):  
Mergers And Acquisitions ◽  
Financial Services ◽  
Abnormal Returns ◽  
The United States ◽  
Industrial Sector ◽  
Payment Method ◽  
Public Firms ◽  
Services Sector ◽  
Long Run ◽  
The Impact

This study investigates how mergers and acquisitions (M&A) affect the wealth of shareholders of public firms in the United States (U.S). More specifically, it investigates whether the nature of the bid, the payment method used, and the type of M&A have implications for shareholders of U.S bidding firms. The study analyses 352 mergers and acquisitions in the U.S during the period 1999-2008, and its results indicate that bidding firms suffer significant negative buy-and-hold abnormal returns in the three years period after a M&A announcement. The results also suggest that, in the long-run, hostile bids and cash-financed bidders outperform friendly bids and stock-funded bidders, respectively. Furthermore, the study also finds that in the long-run bidder firms that focus on industry specialisation within their M&A targets significantly outperform firms that adopt a more diversified strategy. The analysis also investigates the effects of M&A specialisation/diversification in six different sectors, and finds that specialised bidders outperform diversified bidders in four sectors: consumer & basic materials, energy & utilities, communications and technology. Furthermore, bidder firms in the financial services sector perform significantly better when diversifying into other sectors, while the performance of bidder firms in the industrial sector appears unaffected by the degree of M&A specialisation or diversification.

scholarly journals Sectoral growth linkages of agricultural sector: Implications for food security in Pakistan

2019 ◽  
Vol 65 (No. 6) ◽  
pp. 278-288 ◽  
Author(s):  
Hafiz Asim ◽  
Muhammad Akbar
Keyword(s):  
Agricultural Sector ◽  
Negative Impact ◽  
Industrial Sector ◽  
Agricultural Output ◽  
Services Sector ◽  
Agriculture Sector ◽  
Long Run ◽  
Sectoral Growth ◽  
Short Run ◽  
The Impact

Does the growth in non-agricultural sectors spill over to the agricultural sector of an economy? There is limited evidence available on the issue for the developing world, especially for Pakistan which has undergone large structural changes since its independence. This study examined the impact of sectoral growth linkages on agricultural output of Pakistan for the period of 1960–2016. We have estimated an econometric model which incorporates inter-sectoral linkages of Pakistan economy using a Vector Error Correction Model (VECM). Our analysis revealed that the economy of Pakistan has shifted from an agricultural dominant economy to services-based economy during the past six decades. Results of VECM show that the industrial sector has a negative impact on the performance of agricultural output whereas services sector is influencing the output of agriculture sector positively in the long run. Short run results show that industrial sector is affecting the performance of agricultural output positively whereas services sector is influencing the output of agriculture sector negatively. Negative impacts of industry in the long run and services in the short run imply that agricultural sector should be given its due share in public investment and the role of middle man should be minimised at the time of sale of agricultural production in the markets.<br />

Leasing and Insurance Mechanism in Sustainable Agricultural Development

2019 ◽  
Vol 9 (6) ◽  
pp. 1342 ◽  
Author(s):  
Baglan AIMURZINA ◽  
Mazken KAMENOVA ◽  
Ainura OMAROVA ◽  
Roza SHOKHAN ◽  
Ainur KARIPOVA ◽  
...  
Keyword(s):  
Agricultural Development ◽  
Production Efficiency ◽  
Labour Productivity ◽  
Developed Countries ◽  
Industrial Sector ◽  
Industrial Complex ◽  
Economic Changes ◽  
Insurance Mechanism ◽  
The Republic ◽  
The Impact

Economic changes have predetermined public policy, in which its support should play a greater role compared to other sectors. Priority in the development of agricultural production will be indicators of production efficiency, competitiveness of domestic products. In this regard, one of the priorities of the development of the economy of the Republic of Kazakhstan is the accelerated development of the agro-industrial complex on the basis of increasing labour productivity in the agro-industrial sector and increasing exports of processed agricultural products by encouraging a leasing and insurance mechanism. The article analyzes the dynamics of depreciation of fixed assets by type and renewal in agriculture, forestry and fisheries, shows the impact of the formation of mutual insurance on the production efficiency of agricultural producers. The proposals for further improvement of the leasing and insurance mechanisms, including according to the experience of developed countries, are given.

scholarly journals International trade in services and inequalities

2016 ◽  
Vol 23 (5) ◽  
pp. 1069-1075 ◽  
Author(s):  
Sylvain Petit
Keyword(s):  
Wage Inequality ◽  
Developed Countries ◽  
Tourism Industry ◽  
Skilled Workers ◽  
Business Services ◽  
Long Run ◽  
Short Run ◽  
Unskilled Workers ◽  
Tourism Services ◽  
The Impact

This study investigates the impact of the international openness in tourism services trade on wage inequality between highly skilled, semi-skilled, and unskilled workers in the tourism industry. The sample covers 10 developed countries and expands over 15 years. A cointegrated panel data model and an error correction model were used to distinguish between the short- and long-run effects. The results are compared to those of openness of business services and manufactured goods. The findings point out that tourism increases wage inequality at the expense of the least skilled workers in the long run and the short run.

scholarly journals A Long Run ARDL Investigation of Manufacturing Adjustment to the Services Economy in Nigeria

2021 ◽  
Vol 9 (3) ◽  
pp. 95-107
Author(s):  
Olumuyiwa Olamade
Keyword(s):  
Capital Accumulation ◽  
Negative Impact ◽  
Manufacturing Sector ◽  
Value Added ◽  
Business Services ◽  
Development Indicators ◽  
Services Sector ◽  
Positive Effects ◽  
Distributed Lag ◽  
Long Run

The long-run equilibrating relationship between the value-added growth of services and manufacturing is investigated in this research. The study is based on the well-established empirical link between manufacturing and service activities, and in particular, manufacturing's servicification. The selected variables' annualized time series were obtained from the World Development Indicators. The paper used the autoregressive distributed lag framework to regress manufacturing value-added growth against service value-added growth while accounting for economic growth, factor input growth, and trade effects. The findings revealed that in Nigeria, a strong performing services sector has a large negative impact on manufacturing performance, whereas capital accumulation and income growth have positive effects. The supply constraint of business services that the manufacturing sector requires is at the root of this finding. The paper advocates for policy frameworks that support the efficient supply of business services as both a manufacturing input and a productivity enhancer for the entire economy.

scholarly journals Agriculture Sector Credit and Output Relationship in Nepal

2020 ◽  
pp. 33-53
Author(s):  
Arjun Kumar Dahal ◽  
Khagendra Kumar Thapa
Keyword(s):  
Commercial Banks ◽  
Agricultural Sector ◽  
Least Squares Method ◽  
Manufacturing Sector ◽  
Agriculture Sector ◽  
Industrial Sectors ◽  
Long Run ◽  
Integration Test ◽  
The Government ◽  
The Impact

Purpose: The purpose of this study is to find out the condition of priority of commercial banks to provide loans to the agricultural sector and to find the relationship and impact of agricultural loans to the agricultural GDP of Nepal. Objectives: This study aims to compare the condition of loan disbursements in agricultural and manufacturing sectors. It further aims to compare loan percent with growth and contribution to the GDP of the agricultural and industrial sectors and tries to show the impact of agricultural loans to the agricultural GDP of Nepal. Methods: It was based on a descriptive and analytical research design. Statistical tools standard deviation, correlation, regression, etc. are used and Excel, and EViews software are used for the statistical calculations. Statistical calculations and graphs are simultaneously used to show and compare the condition of variables. Results: Commercial banks give higher priority to the manufacturing sector for loans than the agricultural sector. The Johansen Co-integration test indicates no long-run relationship between loans of commercial banks and agricultural output in Nepal. However, the least-squares method, it indicates that a positive causal relationship between agricultural loans and agricultural growth. Implications: The loans of commercial banks directly stimulate the growth of agriculture but the amount of growth is less noticeable. Thus, it is concluded that the commercial bank's loan alone cannot affect and control the growth of the agricultural sector of the Nepalese economy therefore the government should increase its expenditure on the agricultural sector.

Structural Change and its Impact on Industrial Relations

1992 ◽  
Vol 17 (1) ◽  
pp. 3-14
Author(s):  
C S Venkata Ratnam
Keyword(s):  
Structural Change ◽  
Industrial Relations ◽  
Macroeconomic Policy ◽  
Policy Changes ◽  
Economic Changes ◽  
Industrial Policies ◽  
Long Run ◽  
The Impact

The National Seminar on Economic Changes, Employment and Industrial Relations focused on the impact of macroeconomic policy changes on employment and industrial relations in the short as well as in the long run. This background paper by C S Venkata Ratnam argues for the need to bring .about changes in labour policies in tune with the industrial policies.

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