Page 38 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.71, # 1, 2014, pp. 26-39

of total intermediate inputs of the sectoral production process. This, by and large, may require

creating wider production base to support future development and to insulate the national

economy from, unwanted, external shocks and fluctuations.

 The analysis and the obtained results indicated the availability of quite few significant

opportunities for import substitutions in some sectors of the Jordanian economy. These sectors

have been identified in this paper. Hence, such opportunities and the development of the related

sectors have to be objectively considered when setting development programme and selecting

and approving development projects, related to these sectoral activities, for implementation.

 The study and its modelling empirical outcomes have identified eleven sectors as the

leading sectors for future strategic development and sustainable growth of the national economy.

These identified key sectors are; Construction, Iron and Steel, Plastic Products, Mining,

Electricity, Paper and Paper Products, Poultry and Eggs Products, Painting Industry,

Water, Air Transport and Telecommunications sectors.

 Finally, it is advisable that future investment, being government, private (domestic)

and/or foreign (FDI), should be encouraged to be, thoroughly, evaluated and hence channelled to

these sectors. This is besides, when starting allocating resources within the medium-term projects

(investment) budget in Jordan; special consideration should be given to the productive projects

related to each of these leading sectors in the economy. This is quite imperative to be pursued in

order to achieve the aimed at sustainable and integrated socio-economic development without

bottlenecks, and to mitigate the impact of any external shocks on the national economy.

References:

[1] Al-Ali, Hashim, and Burdekin, Russell (1978) "An Analysis of some aspects of the Scottish
economy using Input-output techniques", IBM (U.K.) Scientific Centre Report 0096,

August.

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