**4. Summary and conclusions**

The fundamental convergence of various strand of economic growth analysis is that technological progress is the critical factor for achieving strong and sustainable growth of the economy. However, economic growth process is hinged on strong relationship between consumption and production driven by effectiveness of factors of production. Sectoral interdependence based on input-output principles is vital for expanding economic activities to enhance the capability of factors of production that could lead to technological progress through application and adaptation to exogenous technology that is amplified by endogenous technological change made possible by 'learning-by-doing' and further enhanced by R&D activities.

Production activities by all sectors of the economy are possible only if basic infrastructures and the rule of law that guarantees property rights (patents and copy right laws) are in existence. In addition, human capital formation, which is the bedrock upon which all aspects of economic growth processes are hinged, requires to be nurtured by services that are provided by non-profit-making principles. Effective governance in the performance of welfare and coordination functions, through the proper functioning of institutions and the implementation of robust policies, is a fundamental enabling condition for robust economic activities to enhance the effectiveness of factors of production (labour, capital, land) for technological progress to occur for a strong and sustainable growth of the economy to be achieved.

Inter-industry linkages are essential for achieving economic growth through facilitation absorptive capacity of industries through interdependence for goods and services produced by the cluster of existing industries. The intensity of this interdependence generates high level of learning by doing, prompts the need for innovation, which leads to R&D activities and positive technological change occurs to accelerate economic growth.

It follows therefore that, in general, macroeconomic policies for achieving strong and sustainable growth need to focus on value-adding investments that could expand economic activities to develop a strong household sector to emerge as a source of demand for goods and services on the one hand and source of quality labour input on the other hand to facilitate inter-industry linkages. It is crucial to develop robust manufacturing value-added sector as the core of economic growth strategy to take advantage of high value-adding and inter-industry linkages potential of manufacturing activities to drive strong economic growth.

In conclusion, it is fundamental to implement far-reaching policies for achieving inter-generational equity by investing significantly in social and economic services such as education and health anchored on sound and efficient macroeconomic management.

*Introductory Chapter: Macroeconomic Policy Perspectives of Economic Growth DOI: http://dx.doi.org/10.5772/intechopen.104858*
