Unlike agriculture, manufacturing has been quite dynamic in terms of employment growth as well as output. From 1970 to 1989 employment in manufacturing grew at an annual average rate of 5.6 per cent, while GDP at constant prices grew at 10.2 per cent. (See Figure 6.1). But progress was markedly slower in the early 1980s than in the 1970s. From 1970 to 1979, output grew annually at 11.9 per cent and employment at 8.3 per cent, while from 1981 to 1986, the corresponding figures fell to 5.7 and 2.4 per cent.1


Direct Foreign Investment Employment Growth Domestic Investment Fixed Asset Constant Prex 
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Copyright information

© Robert E. B. Lucas and Donald Verry 1999

Authors and Affiliations

  1. 1.Boston UniversityUSA
  2. 2.University College LondonUK

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