Industry and development -- Engine of growth -- Trade and efficiency -- Globalisation and industrialisation -- Technology and industrialisation -- Small scale industry : sink or seedbed? -- Industrial policy and the East Asian miracle -- Giants awakened : India and China.

This paper revisits the relationship between economic growth and employment creation as expressed in Okun’s law by using the latest updated global ILO dataset for new and more detailed estimates. The analysis confirms that there are important variations across regions of the world and income...