Industrial Production Growth Research Articles

The Growth Model of the Automotive Industry in Türkiye: An Input-Output Analysis via the Hypothetical Extraction Method

Purpose: The objective of this research was to ascertain if the portion of the automotive industry that engages in non-tradable goods or export goods is the principal driving force behind the industry's expansion. The purpose of this paper is to fill the gap by focusing on the automotive industry as its principal area of investigation. Methodology: Productivity growth in the automotive industry was estimated utilizing an innovative hypothetical extraction method (HEM) for both the non-tradable goods sector and the export goods sector. Following that, the weighted multipliers approach is employed to allocate the productivity across the non-tradable goods and export goods of the automotive industry. Findings: The findings indicate that the automotive industry maintains a strategy of development driven by exports. Production targeted for the domestic market is subject to significant limitations. Multinational automobile corporations tend to employ the strategy of exporting. The growth model of the automotive industry is significantly influenced by various institutional elements, including the Customs Union, taxes, and vertical integration. Originality: Although the automotive industry is an essential industry for exports, its growth model has not been comprehensively scrutinized. This study primarily focuses on investigating the growth model of the Turkish automotive industry and the institutional factors that influenced its strategic decisions.

Forecasting U.S. Stock Returns Conditional on Geopolitical Risk and Business Cycles

Using standard predictors in the forecasting literature, we forecast the U.S. stock market returns conditional on geopolitical risk and business cycles over the 1927–2021 period. We find that out-of-sample forecasting performance is significantly better in times of high geopolitical risk versus low geopolitical risk. Consistent with previous research, we find further evidence of improved return predictability in recessions. However, we find little difference in forecasting performance in recessions versus expansions once the level of geopolitical risk is controlled for. We find similar results when using stock market cycles and periods of positive/negative industrial production growth in place of recessions/expansions. Our study contributes to the forecasting literature by documenting that geopolitical risk by itself and in combination with business cycle indicators impacts the forecasting ability of standard forecasting variables in the literature. We also contribute to the literature on the adaptive markets hypothesis with evidence of time-varying return predictability. We find inconclusive evidence as to whether our results are based on time-varying predictability or time-varying risk.

Factors affecting the quality of work life for industrial labour force: empirical evidence from a developing country

The success of any organization requires a skilled, competent, and satisfied workforce. If the workforce can be provided with the necessary components to ensure a high quality of working life, they will become permanent assets. Various factors undoubtedly affect the quality of workers' work lives. This study aims to investigate the drivers of the quality of work life in industrial labour force in a developing country, Bangladesh. It enumerated the elements that have an impact on industrial labour force’s quality of work life (QWL). A structured questionnaire was administered to 420 Bangladeshi workers across diverse industries, yielding a commendable response rate of 93.33%. The collected data underwent analysis employing the partial least squares structural equation modeling (PLS-SEM) technique. Representative industries and respondents were chosen by random selection. The results revealed that work environment, organizational culture and climate, relationships and cooperation, compensation and rewards, adequacy of resources, autonomy of work, job satisfaction, and security are directly related to the QWL. Training and development, and facilities do not significantly affect QWL. The research results can be used to improve the quality of work life for those working in the industrial sector. An industry may accomplish long-term and short-term goals by maintaining a pleasant workforce. The study's findings will provide policymakers and regulatory authorities of Bangladesh's industrial sector with strategic references and strategies to boost industrial productivity and economic growth for sustainable development by ensuring industrial employees' quality of work life that can serve as a template for Bangladesh.

Recovery of samarium and cobalt/iron oxide from SmCo magnets through acid baking and water leaching

AbstractRare earth elements (REEs) and cobalt (Co) are listed as critical raw materials because of their importance in global industrial production growth, high supply risk, and economic significance. The recovery of Co and REEs from secondary resources is therefore proposed as a key countermeasure to address this concern. In this study, a straightforward process that integrates acid baking and water leaching is proposed for the recovery of samarium (Sm) and Co from scrap SmCo magnets. Firstly, the chemical composition of SmCo magnets is revealed by ICP-OES and XRF. The Taguchi experimental design technique is employed to optimize nitric acid baking and water leaching. Based on the thermal decomposition behavior of Co, Fe, and Sm, the acid baking temperature is studied for the conversion of metal nitrates, excluding REEs nitrates, into metal oxides. The optimal conditions for acid baking and water leaching are identified, and a reactor for the pilot-scale acid baking process is proposed. The optimum parameters are tested with the proposed reactor.

Possibility of processing phosphogypsum to obtain an alkalizing reagent

Relevance. The need to develop a technology for the disposal of solid and liquid industrial waste to obtain organic-inorganic fertilizer. The growth of industrial production is accompanied by an increase in waste. In modern society, considerable attention is paid to the problem of processing man-made waste to obtain demanded products. Phosphogypsum is the main by-product of the production of fertilizers and phosphoric acid, it is a multi-tonnage waste, its storage leads to the withdrawal of vast territories from circulation. Liquid waste from pig farms also needs to be processed into organic fertilizers. Aim. To study the process of heat treatment of phosphogypsum in the presence of a reducing agent to obtain an alkalizing reagent. This will make it possible to further organize processing liquid and solid agricultural and industrial waste and produce domestic organic fertilizers Methods. Heat treatment of phosphogypsum in the presence of a reducing agent, followed by the preparation of an aqueous suspension to obtain an agent that reduces the acidity of livestock effluents. The samples of heat-treated phosphogypsum obtained during the study were characterized by X-ray phase analysis, electron microscopy. Suspensions with different pH values were obtained on their basis. Results and conclusions. The authors have studied heat treatment of large-tonnage inorganic waste of the chemical industry – phosphogypsum. It was found that the suspension of phosphogypsum heat-treated in the presence of a reducing agent has increased values of the hydrogen index, which can be used to obtain an alkalizing reagent for treating agricultural waste. The authors revealed the optimal technological modes of obtaining a reagent having the maximum pH value of the suspension: the amount of the introduced reducing agent is 0.16 mol/mol CaSO4, the heat treatment temperature is 1000 °C.

Testing the Environmental Kuznets Curve Hypothesis within the Context of Industrial Development through NARDL Model: The Case of France

Energy is one of the necessary and vital factors for the economic development of countries and the increase in living standards. The limited availability of conventional energy resources, in parallel with the rapid increase in energy consumption due to industrialization activities and technological developments, has encouraged countries to change their energy production policies and use alternative energy sources. For this purpose, in the study, the relationship and direction of the relationship between industrial production, CO2 emissions, energy use and economic growth in France are examined with the carrying out of the ADF, PP, KPSS unit root and the NARDL test for the period 1990–2023. The analysis findings reveal that the variables are cointegrated in the long-run and a 1% unit raise in energy consumption would trigger CO2 emissions by 0.46%. The increase in energy consumption in the long term affects both negatively and positively in the long term. While a 1% increase in energy consumption reduces carbon emissions by 0.48%, a 1% decrease causes a 0.35 decrease in carbon emissions. The positive increase in economic growth and the negative increase in energy consumption trigger environmental pollution by causing an increase in carbon dioxide emissions. There is interdependence between economic activities and environmental pollution. Policy makers need to adopt a strategic approach in solving the rapid industrialization phenomenon and the accompanying magnitude of energy consumption, the pressure on natural resources and the environmental pollution problems resulting from them. In this respect, it is an inevitable necessity for countries to continue multilateral negotiations in which the public sector, business world, academia and non-governmental organizations will take part in solving environmental problems.

Problems of reproductive risk management in occupational medicine and issues of causation

In the Russian Federation, 2024 has been declared the year of the family, which, in the context of the growth of domestic industrial production, determines the importance of preserving the reproductive health of women working in harmful and unfavorable working conditions, preventing the adverse effects of factors in the working environment and the labor process on women’s health indicators. The review examines publications presented in the RSCI, PubMed, Scopus, and Google Scholar databases, which cover mainly the last 10 years (2013–2023)

Financial development and labour productivity growth in stagnant industries

ABSTRACT In recent decades, the US economy has experienced the flow-on effects of rapid expansion by industries with low productivity growth. We investigate whether financial development increases labour productivity growth in these so-called stagnant industries, with analysis revealing remarkable post-1980 US interstate banking deregulation. These improvements are not an artefact of growing consumer demand, nor driven by skilled labour migration. Rather, they are the likely outcome of improved capital allocation and enhanced credit access for small firms. Our findings underscore the pivotal role of financial development in revitalizing stagnant sectors, and mitigating productivity disparities across industries.

Energy-saving scheduling strategy for variable-speed flexible job-shop problem considering operation-dependent energy consumption

The rapid growth of industrial production signifies its CO2 footprint and climate impact, highlighting the demand for efficient and energy-saving production scheduling. Generally, a single production job comprises multiple operations on various machines. Existing studies estimate job energy consumption from a broader perspective, often disregarding the detailed scheduling of operations. This simplification may result in inaccurate evaluations of energy consumption and savings, as energy consumption can differ significantly among operations, with each requiring specific levels of energy on various machines. Proposing a new scheduling framework to replace the classical strategy is challenging yet necessary due to these variations. This study aims to investigate the multiobjective flexible job-shop scheduling problem by considering operation-dependent energy consumption and to improve the accuracy and thoroughness of the energy-consumption evaluation framework. First, a core metamodel for energy assessment is established and a mathematical model is introduced to minimize the manufacturing span and total energy consumption. Subsequently, a dynamic diffusion weight adjustment for a multiobjective evolutionary algorithm based on decomposition (MOEA/D-DDWA) is proposed. Operation-dependent energy consumption and processing quality are discussed, and a superior unified energy-saving strategy is designed to facilitate the selection of the processing-speed range, balancing energy consumption and saving. Finally, numerical experiments are conducted based on datasets of various scales, demonstrating that the core metamodel for energy assessment can achieve significant energy savings. Compared with other classical multiobjective optimization algorithms, the MOEA/D-DDWA is more energy efficient.

Job Flow Patterns and Productivity Dynamics in Turkish Manufacturing

In this paper, we analyze the job creation and destruction process, and the productivity dynamics in Turkish manufacturing by size, export status, import status and ownership by using a comprehensive firm-level dataset for the period of 2010–2015. Our focus is on the effect of turnover, which is due to the entry and exit of firms, on both job flows and industrial productivity growth. Our results show that while small firms contribute most to job creation, it is the large firms that contribute most to productivity growth. Regarding ownership, domestic private firms perform better than foreign firms in both job creation and productivity growth. With respect to export status, even though non-exporters outperform exporters in job creation, exporters dominate the productivity growth. As for import status, in job creation, like in the case of export status, non-importers do better but in productivity growth, unlike in the export status, no group of firms dominate, more specifically importers’ and non-importers’ contributions are close to each other. Another interesting finding is that, turnover effect on industry productivity is positive but very low. The role of incumbent firms in generating productivity growth is much higher than that of entering and exiting firms.

The analysis of electricity consumption in Kazakhstan

The energy sector is a fundamental element of the economic structure of any state, determining its sustainability, competitiveness and ability to innovate. In this context, Kazakhstan, which has significant reserves of hydrocarbons, energy sources and renewable properties, finds itself at the crossroads of solving issues of energy policy, innovation and sustainable development. The electricity sector is a priority resource necessary to maintain the economic security of the country. This is relevant due to the rapid growth of industrial production and demography in order to maintain increasing demand and increase electricity generation in the country. The purpose of this scientific work is focused on the economic analysis of electricity generation and consumption, as well as the identification of shortcomings and the proposal of recommendations to ensure the sustainable development of the energy sector in Kazakhstan. Using the scientific method of analysis, the study aims to identify trends that determine the level of electricity consumption in the country, as well as to offer recommendations for the sustainable and effective development of this industry. The article is a valuable contribution to strengthening and modernizing the energy system of the country. The results of the research are: the current state of Kazakhstani energy sector is revealed against the background of anti-Russian sanctions, increased energy prices and global uncertainty; a comparative analysis of electricity production is carried out; an economic assessment of primary and final energy consumption from 2015 to 2023 was carried out; the reasons for changes in electricity generation and consumption from the perspective of industrial and consumer demand growth were substantiated; shortcomings were revealed and proposals were made to improve the development and consumption of electricity in the republic. The results obtained have significant potential to initiate certain transformations in the energy sector of Kazakhstan. The article is a scientific work contributing to the development of theory and practice in the field of energy in Kazakhstan. This research contributes to the further development of energy consumption and improvement of the country's energy infrastructure, ensuring its sustainability and competitiveness in the long term.

The effects of monetary policy on macroeconomic risk

Monetary policy expansions significantly reduce macroeconomic downside risk, measured as the difference between the median and the 5th percentile of the industrial production growth forecast distribution. However, the effects are smaller in magnitude than those of credit spread shocks, which we find to be a major driver of fluctuations in downside risk. As a consequence, large policy interventions are required to stabilize risk originating from the financial sector, with undesirable consequences in terms of both price and output stability. These findings are obtained using US data and a novel econometric approach which combines quantile regressions and Structural VAR analysis.

The impact of the interest rate on industrial production during the 2008 financial crisis and the COVID-19 pandemic

The impact of the real interest rate on industrial production growth in developed and developing countries was analyzed during the 2008 financial crisis and the COVID-19 pandemic. Panel data analysis was implemented for the monthly period between January 2002 and December 2020. The impact of the real interest rate on industrial production growth was negative for both developed and developing countries in all periods. Moreover, during the 2008 financial crisis, the relationship between the real interest rate and industrial production growth was negative for both developed and developing countries. However, the effect of the real interest rate was stronger in developed countries. During the COVID-19 pandemic, the impact of the real interest rate on industrial production growth has been much stronger than that of the 2008 financial crisis. Its effect has also been more significant in developed countries. The result indicates that during the crisis and the pandemic, a decrease in the real interest rate plays an important role in stimulating industrial production. Pulling the real interest rate down can be an effective tool for promoting growth and can lessen negative consequences in economic activities during the COVID-19 pandemic. Nevertheless, as the inflation rate is very low in developed countries, the risk of depreciation in the exchange rate in developing countries can be limited following expansionary monetary policy. Hence, other alternatives such as government intervention into economic activities by fiscal policy increase in importance beside monetary policy.

The research progress on photocatalytic performance of graphene-based nanocomposites

As soon as nanomaterials were discovered, they attracted a lot of attention because of their unique and excellent properties and became major hot research. They are regarded as the most promising materials in the 21st century. With the growth of industrial production, photocatalytic technology has been pursued as an efficient, green, and economical way of industrial production and treatment of pollution. However, the low light energy utilization of traditional semiconductor materials is a drawback that cannot be ignored. Graphene, as one of the most common and widely used 2D nanomaterials, has a special structure and characteristics that can effectively solve this problem. The paper briefly introduces the structure, properties, preparation method, and basic principle of photocatalysis of graphene. At the same time, a review is provided on the application of graphene-based composite materials in the field of photocatalysis, including dye degradation, photocatalytic treatment of other emerging pollutants, photocatalytic treatment of air pollutants, and water decomposition. By summarizing and integrating the photocatalytic properties of several graphene-based composites, this article lays the foundation and helps to discover new graphene composites.

Asymmetric Effects of Local and Global Business Cycle Variations on the Sectoral Industrial Production in Singapore

Abstract This paper investigates the sensitivities of Singapore’s sectoral industrial production to local and global business cycle variations using the auto-regressive distributed lag (ARDL) model in the nonlinear and asymmetric cointegration framework. By employing monthly time series data from Jan 1983 to Dec 2022 the study corroborates the commonly held view that durable industries are pro-cyclic to thelocal business cycle. However, the nature of cyclic sensitivity is different if viewed from a global perspective. Industries including pharmaceutical, computer, and motor vehicles industries flourish in both the local and global business cycle booms. Almost all industries having long-run linkages with global industrial production are also affected by global production growth in the short run. However, consistent with earlier studies for Southeast Asian countries, very few industries exhibit short-run asymmetries in their relationship with local and global business cycles. We found that incorporating long-run information also improves the forecasting ability of sectoral industrial production growth in Singapore.

Efficiency and productivity growth in US food manufacturing industries: Exporters, ownership changes, and firm characteristics

AbstractThis study employs a stochastic production frontier framework to measure productivity growth among exporters, non‐exporters, and firms experiencing ownership changes through mergers and acquisitions in US food manufacturing. Analyzing a panel data set that integrates Economic Censuses and transaction‐level exports, the results reveal the coexistence of more productive exporters, driven by technical efficiency, alongside less productive non‐exporters. Exporters in arm's length transactions show productivity growth driven by technical efficiency change, while those in related party transactions benefit mainly from technological change. Firms undergoing ownership changes exhibit positive productivity growth with a greater contribution from technical efficiency compared to those without such changes.

Trade Policy and Productivity Growth: Why Do Sudanese Manufacturing Firms Export Less

This paper aims to study the role of trade policy on industrial development and productivity growth. We analyze the relationship between trade policy and productivity growth of manufacturing firms in Sudan. For this work, we evaluate the previous trade policy instruments that implemented between 2000 and 2022. The study finds that Sudan’s trade policy has significant positive effects on manufacturing firms’ productivity. The study reveals that manufacturing firms offer the largest scope for productivity gains through trade policies aiming at enhancing economic growth. The study also found there was a weak support for investment promotion and tariff protection. This study recommends that building a proper trade policy to support manufacturing firms and adopt new technologies and focusing on labor intensive industries are the key success to sustain productivity growth and enable manufacturing firms’ export.

Total Factor Productivity Growth in the Indian Food Processing Industry: A Non-parametric Investigation

This study analysed total factor productivity growth (TFPG) in the Indian food processing industry in the organised sector. The results showed that TFPG in this industry resulted from technical progress and that the role of change in technical efficiency was insignificant. Therefore, for sustainable output growth, the application of new technologies must be followed by adaptation. In this context, policymakers should consider sub-sectoral heterogeneity when designing policies for the Indian food processing industry so that the rates of applying technology and its adaptability can be matched for each industry sub-sector. Thus, the study offers a strong note of caution about investments in technological improvements.

An Empirical Investigation into Financial Distress in the FMCG Sector in India: A Comparative Analysis Using Altman Z-Score and Descriptive Statistics

India's Fast Moving Consumer Goods (FMCG) industry is essential to the country's economic development because it generates a large number of jobs, consumer spending, and generic growth in industrial production. This study leverages the renowned Altman Z-Score model, in conjunction with descriptive statistics, to assess the financial distress of the top five FMCG firms in India. The results from the study clearly show that all the top five companies in the FMCG sector were in the safe zone or in a too healthy zone. The minimum Z-score value among the selected top five companies was 3.36, which shows the strong financial performance of the FMCG sector. The Z-score value of ITC is significant, as the value surges from 4.35 in 2014 to 6.04 in 2023 with steady growth. It implies a healthy financial environment in ITC. In contrast, the Z-score value of Britannia had significantly dropped from the values of 6.1 in 2017 to 3.77 in 2023. Between 2020-2021, almost all the companies saw a sharp downtrend in the Z-score values, which was resulted from the impact of the Covid-19 pandemic (Prasad, V, 2022). It reflects the global economic slowdown due to the Covid-19 pandemic, which also hit the FMCG sector. Britannia and ITC experienced high volatility in the Z-score values for the time period of the last ten years. The highest range was observed in ITC (2.38), followed by Britannia (2.37). The lowest range was observed in Nestle India (0.70). The financial performance of the top five companies in the FMCG sector is in a good position. It clearly shows that there is huge potential for the growth of the FMCG sector and that it will further increase the valuation of companies in the FMCG sector and benefit the shareholders, promoters, and investors.

Effect of Industrial Solid Waste as Fillers on the Rheology and Surface Free Energy of Asphalt Mastic.

The continuous growth of industrial solid waste production has generated many environmental problems. We evaluated the potential of industrial solid waste as a substitute filler in asphalt mastic, with the aim of increasing the use of sustainable road construction materials. In this study, X-ray fluorescence spectroscopy (XRF) and scanning electron microscopy (SEM) were used to characterize the oxide composition and micromorphology of limestone (LS), red mud (RM), steel slag (SS), and ground granulated blast-furnace slag (GGBFS). Four asphalt mastics containing LS, RM, SS, and GGBFS with a filler-to-binder weight ratio of one were prepared. An evaluation of the rheology and wetting of the solid-waste-filler asphalt mastic was conducted using a frequency sweep, temperature sweep, linear amplitude sweep (LAS), multiple stress creep and recovery (MSCR), and surface free energy (SFE) methods. The results showed that SS increased the complex modulus, elastic component of the asphalt mastic and decreased the nonrecoverable creep compliance at stress levels of 0.1 and 3.2 kPa, which improved the rutting resistance of the asphalt mastic and reduced deformation under high-temperature conditions. The RM and GGBFS increased the fatigue performance of the asphalt mastic under strain loading, enhanced its fatigue life, and maintained good performance under long-term loading. The dispersive component of the SFE parameter of the solid-waste-filler asphalt mastic was larger than the polar component for the largest share of the surface energy composition. The SFE of the asphalt mastic prepared from the industrial solid-waste filler was reduced; however, the difference was insignificant compared to the limestone asphalt mastic. Solid-waste-filler asphalt mastic has performance characteristics, and its actual application can be based on different performance characteristics to select an appropriate solid-waste filler. The results of this study provide new technological solutions for solving the utilization rate of solid waste materials and sustainable road construction in the future.