THE ECONOMIC APPRAISAL OF IMPORT SUBSTITUTING INDUSTRIALISATION, WITH SPECIAL REFERENCE TO THE NIGERIAN TEXTILE INDUSTRY
THE ECONOMIC APPRAISAL OF IMPORT SUBSTITUTING INDUSTRIALISATION, WITH SPECIAL REFERENCE TO THE NIGERIAN TEXTILE INDUSTRY
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Date
1978
Authors
EKUERHARE, B. U.
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Abstract
This study is concerned with the appraisal and the explanation of the pattern
of resource allocation and growth associated with Nigerian import-substituting
industrialisation in the context of the textile industry. It seeks to
investigate the general hypothesis, that import substitution as a strategy of
industrialisation has resulted in inefficient allocation and utilisation of
resources. In this context, the study seeks to analyse and explain the
economic costs of import substitution in the Nigerian textile industry, and
to suggest alternative strategies for improving the economic performance of
this industry in particular and of Nigerian industrialisation in general.
The approach adopted is to apply the methods of social cost-benefit analysis
to firm level data of the textile industry.
The organisation of the study is as follows. Chapter 2 reviews the
theoretical and empirical themes and issues concerning the economic performance
of import substitution as a strategy of industrialisation. Within the
neo-classical and the structuralist/Marxist paradigms, it attempts a
theoretical interpretation of the performance of this strategy of industrialisation.
The neo-classical theoretical interpretation provides the basis
for the empirical appraisal of the textile industry, and Chapter 3 sets out
the theoretical and methodological aspects of social cost-benefit analysis.
Chapter A describes and analyses the strategies of Nigerian economic
and industrial growth which provide the general economic background to the
detailed study of the development and performance of the textile industry
Chapter 5 discusses the growth and structural change of the textile industry,
identifies the main factors influencing its development, and examines
some aspects of the performance of the industry. On the basis of the
methods of social cost-benefit analysis explicated in Chapter 3, Chapter 6
appraises empirically the economic performance of the individual firms
operating in the textile industry.
The main results of the application of the methods of social costbenefit
analysis in Chapter 6 are that the growth of the textile industry
has been extremely inefficient, and that there have been wide differentials
in relative inefficiency among firms and sectors in the industry. Chapter 7
attempts an identification and assessment of the factors which could explain
the economic inefficiency of the industry.
In the light of the major conclusions drawn from the empirical
analyses undertaken in Chapters 5, 6 and 7, Chapter 8 examines the alternative
strategies within the neo-classical and the structuralist/Marxist
paradigms, which might be used to improve the economic performance of the
textile industry and of the Nigerian industrial sector generally. The
summary of the main conclusions reached in the study is presented in
Chapter 9.
Description
A thesis submitted to the University of Manchester
for the degree of Doctor of Philosophy in the
Faculty of Economic and Social Studies.
Keywords
ECONOMIC APPRAISAL,, IMPORT SUBSTITUTING INDUSTRIALISATION,, SPECIAL REFERENCE,, NIGERIAN TEXTILE INDUSTRY