Analysis of the influence of industrial policies to the economic development: evidence from Tanzania
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"GLOBAL RESEARCH NETWORK" LLC (USA)
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In Tanzania, recently studies explores that despite implementation of Industrial Policies since it has been launched during the year of 1996, these policies have never bring the desired goals of achieving economic development as targeted, and most importantly these policies were poorly implemented. The present study is undertaken to evaluate the influence of industrial policies to the economic development in Tanzania. With that regard, Simple regression method has been used to estimate the influence of industrial policies on macro economic growth.The influence of industrial policies to economic development is evaluated since the year of 1996 where the industrial policies launched and started to be implemented, as well it was the start of third government term in office (1996-2005) to the year of 2015 where it was the end of fourth government term in the office (2006-2015) in Tanzania.The study consider the data from the World bank, and Tanzania National Bureau of Statistics to evaluate the influence of industrial policies to economic development during the period of 1996 to 2015 in Tanzania. Findings of the study were quite interesting. The results shows that there is significant positive relationship between economic openness and industrial registration, GDP, investment, imports, exports and revenue during the period of 1996 to 2015. Apart from that, the result shows that the relationship between economic openness and employment is negative in the whole period of 1996 to 2015. This means that Industrial policies significantly influenced all macroeconomic economic development indicators (ie; industrial registration, GDP ,investment, import, export and revenue) Except employment.
Keywords
Tanzania, Industrial Policies, and Economic Development