industry through the cost of production, while at the same time it might also
influence the level of aggregate demand. Here, the supply side impact is due to
the Lewisian view, which states that a shift in the TOT in favour of agriculture
squeezes industrial profit and growth, whereas the demand side impact is due
to the Kaldor‟s view, which states that a shift in the TOT in favour of
agriculture stimulates the industrial demand, and thus, growth of the industrial
sector.