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Title: Industrial Employment, Investment Equipment and Economic Growth

Author(s): Harris Dellas

Publication Date: August 2000

Keyword(s): Economic Development, Equipment Investment, Industrial Employment and Labour Intensive Technology

Programme Area(s): International Macroeconomics

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.

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Bibliographic Reference

Dellas, H. 2000. 'Industrial Employment, Investment Equipment and Economic Growth'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=2523