Influence of Industrialisation on Economic Growth: A Case Study of Mbarara City.
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Date
2024
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Journal ISSN
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Publisher
Kabale University
Abstract
This research examined the impact of industrialization on economic growth and the effects of exchange rates and interest rates on economic growth using several econometrics methods: Pairwise Granger causality tests; The lagged error mechanism ECM; Serial correlation; Johansen co-integration. Estimation is conducted using the added manufacturing value as the proxy for industrialization. Empirical results reveal that an increase in industrialization is positively associated with economic growth in both the short and long run. The positive relationship is more significant when we use common correlated factors to address the issue of cross-sectional dependence. The policy implications of this research are that industrialization remains one of the important tools of economic transformation in Uganda and the successful implementation of the industrialization strategies in the Mbarara city is one of the clear pathways to economic growth.
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Keywords
Influence, Industrialisation, Economic Growth, Mbarara City
Citation
Agaba, Gordon (2024). Influence of Industrialisation on Economic Growth: A Case Study of Mbarara City. Kabale: Kabale University.