ABSTRACT
Achieving an adequate and increasing level of economic growth and development appears to be inextricably intertwined with the process of increasing the pace and level of industrialization in an economy. One of the astute chroniclers of the nature of structural change in the development process has written that the issue is not whether industrialization is necessary for development, but only ‘when and in what manner it will take place’ (Syrquin 1988: 218). Industrialization requires the expanded use of new technological processes and ways of doing and thinking, a more skilled and productive labour force and entrepreneurial cadre, and the expansion of physical capital investment at the enterprise level and in the economy as a whole, including physical and social infrastructure formation.
