Manufacturing and Economic Development: Inter-sectoral relationships in Europe, America, Africa and Asia-Pacific, 1999-2006
This study presents a comparative analysis of the evolution of manufacturing real value-added per capita in the countries of Europe, Eurasia, America, Africa, Middle East, South Asia, East Asia and Pacific for the period 1999-2006, and its positive impact on the real value-added of services and economic development. We analyze the results of several econometric models that emphasize the important positive role of manufacturing in inter-sector relationships. The main conclusions show that OECD countries have experienced the highest increases in manufacturing real value-added per capita, as well as a few countries in East Asia and other areas. Unfortunately economic policies did not give enough priority to manufacturing activities in other countries, including many of Latin America, where to foster the real value-added of this sector is of uppermost importance to improve socio-economic development. In the poorest countries of Africa, and other areas, increase of manufacturing activities focused to development of domestic markets, should be included in the main strategies for international cooperation to development together with other socio-economic factors.
Volume (Year): 8 (2008)
Issue (Month): 2 ()
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- Klein, L. R., 2004. "China and India: Two Asian Economic Giants, Two Different Systems," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(1).
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