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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Economic policy and manufacturing sector growth performance in Africa
Authors:Adenikinju, AdeolaISNI
Olofin, S.O.ISNI
Periodical:The Nigerian Journal of Economic and Social Studies
Geographic term:Subsaharan Africa
economic policy
Abstract:This paper focuses on the role of economic policy in the growth performance of the manufacturing sector in African countries. The paper utilizes panel data for seventeen African countries over the period 1976 to 1993. The econometric evidence obtained from the study indicated that government policies aimed at encouraging foreign direct investment, enhancing the external competitiveness of the economy, and maintaining macroeconomic balance have significant effects on manufacturing growth performance in Africa. In addition, measures aimed at curtailing public expenditure growth or at least reducing it to a sustainable level, would stimulate manufacturing growth. However, doing so at the expense of economic and social infrastructure, especially human capital development, would be largely detrimental. App., bibliogr., notes, sum. [Journal abstract]