ISI and New Industrial Conditions in Latin America and Africa

Christopher Warburton

Applied Econometrics and International Development, 2012, vol. 12, issue 2

Abstract: This paper examines the relationship between industrial value added and economic liberalization for a variety of relatively small economies that adopted import-substituting industrialization (ISI) and export led growth in the past. The strong economic performance by some Sub-Saharan African countries in an era of globalization induces inquiry into the contribution of industry to economic growth for a variety of small economies with different political structures and industrial policies. Using cointegration and time series data, this paper finds that industry value added has a long-run relationship with economic liberalization in the case of Ghana, but not for all countries considered.

JEL-codes: F15 F54 L16 L78 L98 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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