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The relationship of the manufacturing growth with the financial industry and real estate industry

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June 2019



Issue No.





This paper focuses on the relationship of the manufacturing industry with the financial and real estate industry. The purpose is to examine whether the fast development of the financial or real estate sector negatively affects the growth of the manufacturing industry as some claimed. Based on the data of China, USA, Germany, and Japan and using the regression analysis, the paper identified factors or variables significantly affecting a country are manufacturing growth. However, it did not find out any such direct significant effect of the financial or real estate sector on the manufacturing industry. On the other hand, the productivity, export, and investment of the manufacturing industry are more important generally to the growth of manufacturing. The paper then further discusses and suggests policy implications on what a country should do to maintain sustainable manufacturing growth.

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