MANUFACTURING AND DEVELOPMENT IN COUNTRIES AND AREAS OF EUROPE AND EURASIA, 2000-2010

Maria-Carmen Guisan

Regional and Sectoral Economic Studies, 2017, vol. 17, issue 1, 129-142

Abstract: We analyze the evolution of manufacturing and development in 5 areas and 42 countries of Europe and Eurasia for the period 2000-2010, following our previous studies of the period 1980-1999. The variables analyzed are real value-added of manufacturing, real production, real investment and real savings per capita, as well as the evolution of population. We find some advance in industrial development of several countries for the period of study, but unfortunately we may notice stagnation and even diminution of manufacturing in several cases, as in the 4 EU countries included in the area of Latin Europe (France, Italy, Spain and Portugal) and in other European Union countries. Areas of East Europe and Eurasia, with starting low levels of manufacturing in year 2000, have experienced a positive evolution of this variable and, as a consequence, a positive impact on non-manufacturing and development for the period 2000-2010. We include an econometric model that shows the positive effects of manufacturing on economic development with a sample of 42 countries for years 2000, 2010 and 2015. The paper contributes to show empirical evidence in favour of Kaldor´s perspective on the positive role of industrialization on economic development. European Union economic policies have shown a worse performance for the decade 2000-2010 than in the period 1980-2000, mainly due to the problem of not enough support to industrial development. We conclude that the EU decision making process should be more open to economics advisors, in order to support industry and development, and have into account the overwhelming demand from EU citizens in the Eurobarometer, who claim for better economic policies.

Keywords: Kaldor; Industry; Manufacturing; Europe 2000-2010; Eurasia 2000-2010; Development; EU citizens opinions in Eurobarometer; Investment; Savings; Econometric Model of Manufacturing and Non-Manufacturing. (search for similar items in EconPapers)
JEL-codes: C5 L6 N16 O14 O53 O56 O57 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eaa:eerese:v:17:y2017:i:1_9

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