| dc.description.abstract | This research examines industrialization, employment, income generation, and economic development in
selected European nations from 2015 through 2021. Specifically, the research examines how
manufacturing share of GDP, employment in the industrial sector and income inequality affect per
capital GDP in selected European countries building through the lens of the Global Value Chains (GVC)
theoretical framework. The study made use of the Panel Least Square (PLS) model to estimate the
relationship. The findings illuminate economic progress in the selected European nations over the
research period. For instance, industrialization, measured by SOMGDP, increases GDPPC statistically.
According to GVC theory, countries that promote industrial growth and global value chains have greater
per capita GDP. The GDPPC-industry employment link was not statistically significant. Industry sector
employment does not significantly affect per capita GDP in the chosen European nations. This shows that
additional factors such as productivity, technological adoption, and skill development are needed to drive
economic expansion through industrial employment. GDPPC was positively correlated with GINI INDEX
income inequality. GDP per capita in Europe increased in spite of rising income disparity; this indicates
that more social measure of standard of living might be more affected by rising income inequality. Since,
industrialization boosts per capita GDP, authorities are advised to prioritize industrial growth. This may
involve encouraging industry investment, supporting R&D, and encouraging innovation and technical
growth. Industrial competitiveness and global value chain integration can support economic
development. | |
