Fiscal Policy Variables and Industrial Growth in Uganda
Keywords:
Fiscal Policy, Industrial Growth, Uganda
Abstract
This study examines the effect of government spending, taxation, and borrowing on the development of Uganda's manufacturing sector in both the short and long term based on the ARDL model. The study was focused on three main objectives: examining the role of government consumption expenditure, the effect of value-added tax (VAT), and the role of short-term debt on manufacturing value-added (MVA). The results show that government spending contributes slightly to MVA in the short term but supports growth in the long term. VAT contributes to MVA in the short term but reduces it in the long term, showing how excessive taxation can damage industrial competitiveness. Short-term debt reduces the growth of MVA in the short term but is positive in the long term, showing the need for careful management of debt. In general, the evidence suggests that firm government support, moderate taxation, and prudent borrowing are central to the development of Uganda's manufacturing. However, the study identifies a number of limitations, such as the reliance on secondary data, exclusion of possible determinants, and failure to fully establish causality. It recommends that future research take into account a wider range of variables and more disaggregated data in an effort to shed more light on the determinants of manufacturing growth.
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References
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Afonso, A., & Jalles, J. T. (2011). Economic performance and government size. European Central Bank Working Paper Series, 1399, 1–36.
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Ahmad, F., Balakrishnan, B., & Jha, S. (2021). Variance inflation factor in regression diagnostics. International Journal of Statistics and Economics, 22(2), 12–24.
Akcigit, U., & Ates, S. T. (2021). Ten facts on declining business dynamism and lessons from endogenous growth theory. American Economic Journal: Macroeconomics, 13(1), 257–298.
Alex, O., & Ebieri, J. (2014). Government expenditure and economic growth in Nigeria: A disaggregated analysis. Journal of Economics and Sustainable Development, 5(4), 32–43.
Amaghionyeodiwe, L. A. (2019). Government expenditure on education and economic growth in ECOWAS countries. International Journal of Economics and Finance, 11(5), 112–122.
Bank, W. (2020). World Development Indicators. Washington, DC: World Bank.
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Barro, R. J., & Sala-i-Martin, X. (1992). Public finance in models of economic growth. Review of Economic Studies, 59(4), 645–661.
Baum, A., Checherita-Westphal, C., & Rother, P. (2013). Debt and growth: New evidence for the euro area. Journal of International Money and Finance, 32, 809–821.
Bayman, S., & Dexter, K. (2021). Understanding multicollinearity in econometric modeling. Applied Economics Letters, 28(15), 1273–1277.
Behuria, P. (2021). Industrial policy in Uganda: A political settlements analysis. Oxford Development Studies, 49(1), 45–62.
Bonucchi, L., Federici, D., & Parisi, M. L. (2015). The impact of taxation on economic growth: A panel data analysis. Economic Systems, 39(2), 243–258.
Browning, E. K. (1976). The marginal cost of public funds. Journal of Political Economy, 84(2), 283–298.
Buda, G., & Ricz, J. (2023). Investment promotion and industrial policies in Uganda. Journal of African Trade, 10(1), 67–82.
Caner, M., Grennes, T., & Koehler-Geib, F. (2010). Finding the tipping point—When sovereign debt turns bad. World Bank Policy Research Working Paper No. 5391.
Chan, K. S., Wong, T., & Lee, C. (2022). Detecting multicollinearity: A comparative approach. Journal of Applied Statistics, 49(7), 1583–1599.
Checherita-Westphal, C., & Rother, P. (2012). The impact of high government debt on economic growth and its channels: An empirical investigation for the euro area. European Economic Review, 56(7), 1392–1405.
Chen, W., Karavias, Y., & Tzavalis, E. (2022). Unit root tests in small samples: A Monte Carlo study. Econometrics and Statistics, 24(2), 132–146.
Chudik, A., Mohaddes, K., Pesaran, M. H., & Raissi, M. (2017). Is there a debt-threshold effect on output growth? Review of Economics and Statistics, 99(1), 135–150.
Devarajan, S., Swaroop, V., & Zou, H. (1996). The composition of public expenditure and economic growth. Journal of Monetary Economics, 37(2–3), 313–344.
Demir, A. (2022). Normality testing in econometrics: A comparative analysis. International Journal of Economic Statistics, 8(1), 21–37.
Ebaidalla, M. (2013). Causality between government spending and economic growth: Evidence from Sudan. Journal of Economic Cooperation and Development, 34(4), 61–76.
Eberhardt, M., & Presbitero, A. F. (2015). Public debt and growth: Heterogeneity and non-linearity. Journal of International Economics, 97(1), 45–58.
Egert, B. (2015a). Public debt, economic growth and nonlinear effects: Myth or reality? Journal of Macroeconomics, 43, 226–238.
Egert, B. (2015b). Debt and growth: Is there a robust non-linear relationship? Economic Modelling, 48, 248–265.
Elbadawi, I., Kaltani, L., & Schmidt-Hebbel, K. (2019). Why do countries have public debt? Policy Research Working Paper Series, 4878, World Bank.
Enkoro, M. (2016). Application of the ARDL model in small samples: Evidence from African economies. African Journal of Econometrics, 7(2), 88–104.
Esaku, S. (2021). Neoliberal reforms and industrialization in Uganda. African Review of Economics and Finance, 13(2), 65–84.
Gasparrini, A. (2021). Distributed lag models: Theory and applications. International Journal of Epidemiology, 50(3), 829–837.
Ggoobi, R. (2017). Industrial policy in Uganda: Challenges and prospects. Economic Policy Research Centre Working Paper, 139.
Ggoobi, R. (2020). Import substitution and fiscal policy in Uganda: Post-COVID strategies. Uganda Economic Review, 28(2), 55–78.
Ghosh, S., & Parab, P. (2021). Endogenous growth theory revisited: Lessons for developing economies. Economic Modelling, 99, 105491.
Gitana, M., Risti?, K., & Petrov, M. (2018). Government spending and growth: Evidence from the EU. Economic Systems, 42(1), 3–15.
Goel, A. (2023). Secondary data sources in industrial economics: Uganda’s case. African Statistical Journal, 36(2), 102–115.
GoU. (2019). Annual Budget Performance Report 2018/2019. Kampala: Government of Uganda.
Goulder, L. H., & Summers, L. H. (1987). Tax policy, asset prices, and growth: A general equilibrium analysis. Journal of Public Economics, 32(1), 3–20.
Gregoriou, A., & Ghosh, S. (2009). The impact of government spending on growth: Empirical evidence from panel data. Economic Research, 22(2), 5–20.
Guesh, G. (1997). Public spending and economic growth: Evidence from Sub-Saharan Africa. African Economic Policy Review, 5(1), 21–39.
Hanssen, P., & Henrekson, M. (1994). Government size and growth: A survey and interpretation of the evidence. Journal of Economic Surveys, 8(1), 1–35.
Hatem, R., Zeidan, R., Goossens, C., & Moreira, R. (2022). Residual diagnostics in econometric modeling. Applied Economics Letters, 29(9), 734–740.
Hsieh, C. T., & Parker, J. (2007). Taxes and growth in Chile. Journal of Public Economics, 91(1–2), 75–91.
Huang, J., Chen, Y., Su, C. W., & Wu, T. P. (2020). Industrialization and economic self-reliance in developing countries. Economic Modelling, 88, 138–152.
Hussain, I., Haque, M., & Azam, M. (2012). Defense spending, taxation, and economic growth in Asia. Journal of Asian Economics, 23(1), 60–70.
Imbs, J., & Ranciere, R. (2015). Debt overhang: Cross-country evidence. World Bank Economic Review, 29(1), 23–45.
Jackson, M., & Jabbie, S. (2020). Fiscal policy responses to pandemics: Lessons for Africa. African Development Review, 32(S1), 72–90.
Jones, C. I. (2022). The facts of economic growth. Handbook of Macroeconomics, 2A, 3–69.
Kim, S., Lim, H., & Park, D. (2018). Government size and growth: Nonlinear relationships. Economic Modelling, 72, 239–254.
Kumar, M. S., & Woo, J. (2010). Public debt and growth. IMF Working Paper, 10/174.
Lee, Y., & Gordon, R. (2005). Tax structure and economic growth. Journal of Public Economics, 89(5–6), 1027–1043.
Liang, Z., Wang, Y., & Liu, S. (2024). Time series analysis methods in industrial economics. Statistical Modelling, 24(2), 125–144.
Liu, L., Wu, F., & Zhang, Y. (2008). Government expenditure and economic growth in China. Journal of Macroeconomics, 30(2), 350–362.
Lukwago, M. (2021). Fiscal expansion and industrialization in Uganda. Uganda Journal of Economic Policy, 15(1), 55–77.
Mazungunye, N. (2020). Industrialization in Sub-Saharan Africa: Opportunities and constraints. Development Southern Africa, 37(6), 935–950.
Maydeu, A. (2017). On the distribution of residuals in small samples. Econometrics Letters, 9(2), 67–74.
Mendoza, E., Milesi-Ferretti, G., & Asea, P. (1997). On the ineffectiveness of tax policy in altering long-run growth. Journal of Public Economics, 66(1), 99–126.
Mengistu, D. (2022). Fiscal policy and manufacturing growth: ARDL evidence from Ethiopia. African Economic Policy Review, 14(3), 45–65.
Nasir, M., & Morgan, P. (2025). Unit root testing and time series econometrics. Econometrics and Statistics, 27(1), 41–58.
Natsiopoulos, K., & Tzeremes, N. (2022). Bounds testing and cointegration in ARDL models. Journal of Economic Modelling, 109, 105789.
NPA. (2019). National Planning Authority: Uganda Vision 2040 and NDP III (2020/21–2024/25). Kampala: Government of Uganda.
Olwor, B. (2023). Industrialization strategies and policy outcomes in Uganda. Uganda Economic Journal, 34(2), 145–167.
Opare, R. (2022). Public debt and economic growth: Evidence from Sub-Saharan Africa. African Journal of Economic Policy, 29(3), 87–103.
Patricia, A., & Izuhukwu, O. (2013). Government expenditure and economic growth: Evidence from Nigeria. International Journal of Economics and Finance, 5(1), 210–216.
Pattillo, C., Poirson, H., & Ricci, L. (2011). External debt and growth. Review of Economics and Institutions, 2(3), 30–67.
Poulson, B. W., & Kaplan, J. G. (2018). State income taxes and economic growth. Cato Journal, 38(1), 53–75.
Ranjan, K. D., & Sharma, C. (2008). Government spending and economic growth in India. Economic Notes, 37(2), 167–176.
Ro?oiu, I. (2015). Government spending and economic growth: Evidence from Romania. Procedia Economics and Finance, 32, 526–533.
Rubin, J. (2025). Endogenous growth theory and technological innovation. Journal of Economic Perspectives, 39(1), 55–73.
Sankaran, C., Kumar, R., Arjun, S., & Das, P. (2019). Fiscal multipliers and industrial growth: Evidence from Asia. Asian Economic Policy Review, 14(2), 233–251.
Sedrakyan, L., & Candamio, L. (2019). Government spending and economic growth: Evidence from Armenia and Spain. International Journal of Economic Policy, 16(2), 89–107.
Sendi, J., Kaggwa, J., & Mugisha, E. (2022). Uganda’s manufacturing sector: Challenges and opportunities. Makerere Journal of Business and Management, 18(1), 23–45.
Sokbae, L., Shin, Y., & Schmidt, P. (2017). Threshold effects of debt on growth: Panel evidence. Journal of Econometrics, 198(2), 234–251.
Stoilova, D. (2017). Tax structure and economic growth: Evidence from the European Union. Contemporary Economics, 11(1), 103–118.
Suleiman, M. (2019). Variance inflation factors in applied econometrics. Journal of Applied Statistics, 46(7), 1311–1324.
Szarowska, I. (2014). The effects of taxation on economic growth: Panel data analysis for EU countries. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 62(4), 653–661.
Tosun, M. S., & Abizadeh, S. (2019). Economic growth and tax components: An analysis of OECD countries. Applied Economics, 51(5), 567–577.
Turrisi, G., Cigada, A., & Zappa, G. (2022). Cointegration analysis in economic time series. Journal of Time Series Econometrics, 14(3), 345–367.
Udo, U., Akpan, I., & Effiong, J. (2016). Government expenditure and economic growth in West Africa. African Development Review, 28(4), 543–556.
Usman, A., Mobolaji, H., Kilishi, A., & Yaru, M. (2011). Government expenditure and growth nexus in Nigeria: An empirical analysis. Research Journal of Finance and Accounting, 2(2), 45–54.
Vartia, L. (2008). How do taxes affect investment and productivity? OECD Economics Department Working Paper No. 656.
Wolff, P. (2020). Uganda’s industrial development: Regional comparisons and lessons. Journal of African Economies, 29(2), 112–134.
World Bank. (2018). World Development Indicators. Washington, DC: World Bank.
Wu, S., Tang, J., & Lin, E. (2010). Government expenditure and economic growth: A causality analysis. Journal of Applied Economics, 12(2), 23–41.
Ye, Y., Gao, X., Fang, Y., Liu, Y., & Chen, M. (2021). Endogenous growth theory and technological knowledge creation. Economic Research Journal, 56(5), 87–105
Afonso, A., & Jalles, J. T. (2011). Economic performance and government size. European Central Bank Working Paper Series, 1399, 1–36.
Aghion, P., Akcigit, U., Cage, J., & Kerr, W. (2016). Taxation, corruption, and growth. Journal of Economic Growth, 21(4), 409–449.
Ahmad, F., Balakrishnan, B., & Jha, S. (2021). Variance inflation factor in regression diagnostics. International Journal of Statistics and Economics, 22(2), 12–24.
Akcigit, U., & Ates, S. T. (2021). Ten facts on declining business dynamism and lessons from endogenous growth theory. American Economic Journal: Macroeconomics, 13(1), 257–298.
Alex, O., & Ebieri, J. (2014). Government expenditure and economic growth in Nigeria: A disaggregated analysis. Journal of Economics and Sustainable Development, 5(4), 32–43.
Amaghionyeodiwe, L. A. (2019). Government expenditure on education and economic growth in ECOWAS countries. International Journal of Economics and Finance, 11(5), 112–122.
Bank, W. (2020). World Development Indicators. Washington, DC: World Bank.
Barro, R. J. (1990). Government spending in a simple model of endogenous growth. Journal of Political Economy, 98(5), 103–125.
Barro, R. J., & Sala-i-Martin, X. (1992). Public finance in models of economic growth. Review of Economic Studies, 59(4), 645–661.
Baum, A., Checherita-Westphal, C., & Rother, P. (2013). Debt and growth: New evidence for the euro area. Journal of International Money and Finance, 32, 809–821.
Bayman, S., & Dexter, K. (2021). Understanding multicollinearity in econometric modeling. Applied Economics Letters, 28(15), 1273–1277.
Behuria, P. (2021). Industrial policy in Uganda: A political settlements analysis. Oxford Development Studies, 49(1), 45–62.
Bonucchi, L., Federici, D., & Parisi, M. L. (2015). The impact of taxation on economic growth: A panel data analysis. Economic Systems, 39(2), 243–258.
Browning, E. K. (1976). The marginal cost of public funds. Journal of Political Economy, 84(2), 283–298.
Buda, G., & Ricz, J. (2023). Investment promotion and industrial policies in Uganda. Journal of African Trade, 10(1), 67–82.
Caner, M., Grennes, T., & Koehler-Geib, F. (2010). Finding the tipping point—When sovereign debt turns bad. World Bank Policy Research Working Paper No. 5391.
Chan, K. S., Wong, T., & Lee, C. (2022). Detecting multicollinearity: A comparative approach. Journal of Applied Statistics, 49(7), 1583–1599.
Checherita-Westphal, C., & Rother, P. (2012). The impact of high government debt on economic growth and its channels: An empirical investigation for the euro area. European Economic Review, 56(7), 1392–1405.
Chen, W., Karavias, Y., & Tzavalis, E. (2022). Unit root tests in small samples: A Monte Carlo study. Econometrics and Statistics, 24(2), 132–146.
Chudik, A., Mohaddes, K., Pesaran, M. H., & Raissi, M. (2017). Is there a debt-threshold effect on output growth? Review of Economics and Statistics, 99(1), 135–150.
Devarajan, S., Swaroop, V., & Zou, H. (1996). The composition of public expenditure and economic growth. Journal of Monetary Economics, 37(2–3), 313–344.
Demir, A. (2022). Normality testing in econometrics: A comparative analysis. International Journal of Economic Statistics, 8(1), 21–37.
Ebaidalla, M. (2013). Causality between government spending and economic growth: Evidence from Sudan. Journal of Economic Cooperation and Development, 34(4), 61–76.
Eberhardt, M., & Presbitero, A. F. (2015). Public debt and growth: Heterogeneity and non-linearity. Journal of International Economics, 97(1), 45–58.
Egert, B. (2015a). Public debt, economic growth and nonlinear effects: Myth or reality? Journal of Macroeconomics, 43, 226–238.
Egert, B. (2015b). Debt and growth: Is there a robust non-linear relationship? Economic Modelling, 48, 248–265.
Elbadawi, I., Kaltani, L., & Schmidt-Hebbel, K. (2019). Why do countries have public debt? Policy Research Working Paper Series, 4878, World Bank.
Enkoro, M. (2016). Application of the ARDL model in small samples: Evidence from African economies. African Journal of Econometrics, 7(2), 88–104.
Esaku, S. (2021). Neoliberal reforms and industrialization in Uganda. African Review of Economics and Finance, 13(2), 65–84.
Gasparrini, A. (2021). Distributed lag models: Theory and applications. International Journal of Epidemiology, 50(3), 829–837.
Ggoobi, R. (2017). Industrial policy in Uganda: Challenges and prospects. Economic Policy Research Centre Working Paper, 139.
Ggoobi, R. (2020). Import substitution and fiscal policy in Uganda: Post-COVID strategies. Uganda Economic Review, 28(2), 55–78.
Ghosh, S., & Parab, P. (2021). Endogenous growth theory revisited: Lessons for developing economies. Economic Modelling, 99, 105491.
Gitana, M., Risti?, K., & Petrov, M. (2018). Government spending and growth: Evidence from the EU. Economic Systems, 42(1), 3–15.
Goel, A. (2023). Secondary data sources in industrial economics: Uganda’s case. African Statistical Journal, 36(2), 102–115.
GoU. (2019). Annual Budget Performance Report 2018/2019. Kampala: Government of Uganda.
Goulder, L. H., & Summers, L. H. (1987). Tax policy, asset prices, and growth: A general equilibrium analysis. Journal of Public Economics, 32(1), 3–20.
Gregoriou, A., & Ghosh, S. (2009). The impact of government spending on growth: Empirical evidence from panel data. Economic Research, 22(2), 5–20.
Guesh, G. (1997). Public spending and economic growth: Evidence from Sub-Saharan Africa. African Economic Policy Review, 5(1), 21–39.
Hanssen, P., & Henrekson, M. (1994). Government size and growth: A survey and interpretation of the evidence. Journal of Economic Surveys, 8(1), 1–35.
Hatem, R., Zeidan, R., Goossens, C., & Moreira, R. (2022). Residual diagnostics in econometric modeling. Applied Economics Letters, 29(9), 734–740.
Hsieh, C. T., & Parker, J. (2007). Taxes and growth in Chile. Journal of Public Economics, 91(1–2), 75–91.
Huang, J., Chen, Y., Su, C. W., & Wu, T. P. (2020). Industrialization and economic self-reliance in developing countries. Economic Modelling, 88, 138–152.
Hussain, I., Haque, M., & Azam, M. (2012). Defense spending, taxation, and economic growth in Asia. Journal of Asian Economics, 23(1), 60–70.
Imbs, J., & Ranciere, R. (2015). Debt overhang: Cross-country evidence. World Bank Economic Review, 29(1), 23–45.
Jackson, M., & Jabbie, S. (2020). Fiscal policy responses to pandemics: Lessons for Africa. African Development Review, 32(S1), 72–90.
Jones, C. I. (2022). The facts of economic growth. Handbook of Macroeconomics, 2A, 3–69.
Kim, S., Lim, H., & Park, D. (2018). Government size and growth: Nonlinear relationships. Economic Modelling, 72, 239–254.
Kumar, M. S., & Woo, J. (2010). Public debt and growth. IMF Working Paper, 10/174.
Lee, Y., & Gordon, R. (2005). Tax structure and economic growth. Journal of Public Economics, 89(5–6), 1027–1043.
Liang, Z., Wang, Y., & Liu, S. (2024). Time series analysis methods in industrial economics. Statistical Modelling, 24(2), 125–144.
Liu, L., Wu, F., & Zhang, Y. (2008). Government expenditure and economic growth in China. Journal of Macroeconomics, 30(2), 350–362.
Lukwago, M. (2021). Fiscal expansion and industrialization in Uganda. Uganda Journal of Economic Policy, 15(1), 55–77.
Mazungunye, N. (2020). Industrialization in Sub-Saharan Africa: Opportunities and constraints. Development Southern Africa, 37(6), 935–950.
Maydeu, A. (2017). On the distribution of residuals in small samples. Econometrics Letters, 9(2), 67–74.
Mendoza, E., Milesi-Ferretti, G., & Asea, P. (1997). On the ineffectiveness of tax policy in altering long-run growth. Journal of Public Economics, 66(1), 99–126.
Mengistu, D. (2022). Fiscal policy and manufacturing growth: ARDL evidence from Ethiopia. African Economic Policy Review, 14(3), 45–65.
Nasir, M., & Morgan, P. (2025). Unit root testing and time series econometrics. Econometrics and Statistics, 27(1), 41–58.
Natsiopoulos, K., & Tzeremes, N. (2022). Bounds testing and cointegration in ARDL models. Journal of Economic Modelling, 109, 105789.
NPA. (2019). National Planning Authority: Uganda Vision 2040 and NDP III (2020/21–2024/25). Kampala: Government of Uganda.
Olwor, B. (2023). Industrialization strategies and policy outcomes in Uganda. Uganda Economic Journal, 34(2), 145–167.
Opare, R. (2022). Public debt and economic growth: Evidence from Sub-Saharan Africa. African Journal of Economic Policy, 29(3), 87–103.
Patricia, A., & Izuhukwu, O. (2013). Government expenditure and economic growth: Evidence from Nigeria. International Journal of Economics and Finance, 5(1), 210–216.
Pattillo, C., Poirson, H., & Ricci, L. (2011). External debt and growth. Review of Economics and Institutions, 2(3), 30–67.
Poulson, B. W., & Kaplan, J. G. (2018). State income taxes and economic growth. Cato Journal, 38(1), 53–75.
Ranjan, K. D., & Sharma, C. (2008). Government spending and economic growth in India. Economic Notes, 37(2), 167–176.
Ro?oiu, I. (2015). Government spending and economic growth: Evidence from Romania. Procedia Economics and Finance, 32, 526–533.
Rubin, J. (2025). Endogenous growth theory and technological innovation. Journal of Economic Perspectives, 39(1), 55–73.
Sankaran, C., Kumar, R., Arjun, S., & Das, P. (2019). Fiscal multipliers and industrial growth: Evidence from Asia. Asian Economic Policy Review, 14(2), 233–251.
Sedrakyan, L., & Candamio, L. (2019). Government spending and economic growth: Evidence from Armenia and Spain. International Journal of Economic Policy, 16(2), 89–107.
Sendi, J., Kaggwa, J., & Mugisha, E. (2022). Uganda’s manufacturing sector: Challenges and opportunities. Makerere Journal of Business and Management, 18(1), 23–45.
Sokbae, L., Shin, Y., & Schmidt, P. (2017). Threshold effects of debt on growth: Panel evidence. Journal of Econometrics, 198(2), 234–251.
Stoilova, D. (2017). Tax structure and economic growth: Evidence from the European Union. Contemporary Economics, 11(1), 103–118.
Suleiman, M. (2019). Variance inflation factors in applied econometrics. Journal of Applied Statistics, 46(7), 1311–1324.
Szarowska, I. (2014). The effects of taxation on economic growth: Panel data analysis for EU countries. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 62(4), 653–661.
Tosun, M. S., & Abizadeh, S. (2019). Economic growth and tax components: An analysis of OECD countries. Applied Economics, 51(5), 567–577.
Turrisi, G., Cigada, A., & Zappa, G. (2022). Cointegration analysis in economic time series. Journal of Time Series Econometrics, 14(3), 345–367.
Udo, U., Akpan, I., & Effiong, J. (2016). Government expenditure and economic growth in West Africa. African Development Review, 28(4), 543–556.
Usman, A., Mobolaji, H., Kilishi, A., & Yaru, M. (2011). Government expenditure and growth nexus in Nigeria: An empirical analysis. Research Journal of Finance and Accounting, 2(2), 45–54.
Vartia, L. (2008). How do taxes affect investment and productivity? OECD Economics Department Working Paper No. 656.
Wolff, P. (2020). Uganda’s industrial development: Regional comparisons and lessons. Journal of African Economies, 29(2), 112–134.
World Bank. (2018). World Development Indicators. Washington, DC: World Bank.
Wu, S., Tang, J., & Lin, E. (2010). Government expenditure and economic growth: A causality analysis. Journal of Applied Economics, 12(2), 23–41.
Ye, Y., Gao, X., Fang, Y., Liu, Y., & Chen, M. (2021). Endogenous growth theory and technological knowledge creation. Economic Research Journal, 56(5), 87–105
Published
2025-10-24
How to Cite
Musiita, B., Kijjambu, F. N., & Nsengiyumva, J. B. (2025). Fiscal Policy Variables and Industrial Growth in Uganda. Journal of Social and Development Sciences, 15(3(S), 25-42. https://doi.org/10.22610/jsds.v15i3(S).4762
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Research Paper
Copyright (c) 2025 Benjamin Musiita, Frederick Nsambu Kijjambu, John Bosco Nsengiyumva
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