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Industry Policy Effects On Namibia'S Economic Growth

Author

Listed:
  • Emilia Landa Shikomba

    (School of Economics and Business Administration, Chongqing University, China)

  • Elizabeth Elias

    (Dongbei University of Finance and Economics, China)

  • Sirorat Ruttanawijit

    (School of Economics and Business Administration, Chongqing University, China)

Abstract

This paper investigates a relationship between economic growth and industrial policy. The methodology employed in this work is the Autoregressive Distributed Lag (ARD)Model. In addition, the bound cointegration test and Error Correction Model were conducted (ECM). This research estimated the economy of Namibia wherein the industrial policy is narrow and appears to be the second sector contributing to economic growth. The results indicate a significant positive relationship between industrial policy and economic growth. The government may seek to create a favorable business climate and subsidize private firms as well as to reform the labor market and use low-cost technologies to produce products and maintain sustainable economic growth. An action-designed industrial policy will strive to promote manufacturing activities and increase economic growth.

Suggested Citation

  • Emilia Landa Shikomba & Elizabeth Elias & Sirorat Ruttanawijit, 2021. "Industry Policy Effects On Namibia'S Economic Growth," Economic Review: Journal of Economics and Business, University of Tuzla, Faculty of Economics, vol. 19(1), pages 13-22, May.
    • Handle: RePEc:tuz:journl:v:19:y:2021:i:1:p:13-22
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    References listed on IDEAS

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    More about this item

    Keywords

    industrial policy; economic growth; Namibia;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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