Industrial Employment, Investment Equipment and Economic Growth

Harris Dellas ()

No 2523, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The industrialization of labour is the main engine of growth during the early stages of economic development. In less developed countries, equipment investment has played a less important role than non-equipment investment; and it has only proved growth enhancing when it either encountered a substantial industrial labour force or fostered a large increase in the share of industrial employment. These findings draw attention to the effects of investment on the composition of the labour force; and unlike recent claims emphasizing industrialization via equipment investment, they suggest that employment industrialization policies may hold the key to success in the LDC world.

Keywords: Economic development; Industrial employment; Equipment investment; Labour intensive technology (search for similar items in EconPapers)
JEL-codes: O14 O30 O57 (search for similar items in EconPapers)
Date: 2000-08
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Journal Article: Industrial Employment, Investment Equipment, and Economic Growth (2001)
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