Journal
STRUCTURAL CHANGE AND ECONOMIC DYNAMICS
Volume 34, Issue -, Pages 46-59Publisher
ELSEVIER
DOI: 10.1016/j.strueco.2015.06.002
Keywords
Economic growth; Development; Industrialisation; Manufacturing sector
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Historically, manufacturing has functioned as the main engine of economic growth and development. However, recent research raises questions concerning the continued importance of the manufacturing sector for economic development. We re-examine the role of manufacturing as a driver of growth in developed and developing countries in the period 1950-2005. We find a moderate positive impact of manufacturing on growth. We also find interesting interaction effects of manufacturing with education and income gaps. In a comparison of the subperiods, it seems that since 1990, manufacturing is becoming a more difficult route to growth than before. (C) 2015 Elsevier B.V. All rights reserved.
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