Industrialization Of Economies With Low Manufacturing Base

The basic theme of the dissertation is placing structure of economies as an intermediate explanatoryrnfactor for attainment of sustained growth of low-income economies that are in transition from stagnantrnagricultural economy to modern economic growth. The dissertation sets out with conceptualization of arnmodel applicable to structures of low income and under industrialized economies, and hypothesizes onrnthe long term outcomes of these structures. Sustained growth is the result of a particular structure inrnwhich manufacturing growth drives economic growth. A structure where transaction services havernexpanded beyond certain levels stunts manufacturing. Empirical investigations were carried out to test the hypotheses on 35 countries that were low-income economies in 1970.The results provide support for centrality of manufacturing and for the retarding effect of non-optimal growth of transaction servicesrnon manufacturing growth.

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