Theoretical arguments for industrialisation-driven growth and economic development

Ciarli, Tommaso and Di Maio, Michele (2013) Theoretical arguments for industrialisation-driven growth and economic development. Working Paper. University of Sussex, Brighton, Sussex.

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Abstract

We review the theories of growth and economic development in which the industrial sector plays a role. We briefly discuss the theoretical arguments that have been put forward in each of them and summarise the explanation of how industrialisation promotes growth and economic development. We follow an (occasionally overlapping) chronological order and find it convenient to distinguish three main periods in development thinking: the theories of the stages of economic development; the classical theories of economic development; and the modern views. The paper show that, with few exceptions, industrialisation has always been considered the driver of economic growth in economic theory. However, in much of the relevant literature, the superiority of industry is assumed or observed, rather than explained, suggesting that there are a number of unresolved issues behind the different theoretical arguments for industrialisation-led economic development. Any development policy that focuses on industrialisation should consider these arguments in relation to specific objectives and contexts, rather than taking them for granted.

Item Type: Reports and working papers (Working Paper)
Additional Information: SWPS 2013-06
Schools and Departments: School of Business, Management and Economics > SPRU - Science Policy Research Unit > SPRU Working Paper Series
Subjects: H Social Sciences
Depositing User: Jill Kirby
Date Deposited: 16 Jul 2014 13:57
Last Modified: 16 Jul 2014 13:57
URI: http://sro.sussex.ac.uk/id/eprint/49316

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