The paper empirically examines the internationalization-output nexus in 15 late-industrialized countries from 1976 to 2018 using fixed and random effects techniques. The findings reveal that trade openness negatively impacts the industrial output, while the labor force shows a positive and statistically significant impact. Domestic investment and education show negligible and insignificant positive and negative impacts on output, respectively. Investment is supposedly incurring zero marginal productivity of capital as it is high in excess of labor. In a nutshell, it is capital bias. Furthermore, bias in terms of complex skill requirements in production prevents the entry of less-skilled labor force. Given these outcomes, we conclude that the incremental capital-output ratio (ICOR) needs to be tested to find out additional intricate issues involved in investment. Besides, the comparative advantage in less skilled labor is underutilized. To overcome this, the policymakers should ensure absorption of such semi-skilled human capital. This requires removing skill bias and capital bias to a reasonable extent without damaging output generation. Hence, the study suggested that the late-industrialized nations may use the potential labor force and capital to speed-up long-term industrial development by enhancing human capital through training, technical know-how, etc., to attain sustainable industrial development.

中文翻译：

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国际化-工业产出关系：来自 15 个工业化后期经济体的证据

本文使用固定和随机效应技术，实证检验了 15 个后工业化国家从 1976 年到 2018 年的国际化与产出之间的关系。调查结果表明，贸易开放对工业产出产生负面影响，而劳动力则显示出积极且统计上显着的影响。国内投资和教育对产出的正面和负面影响分别可以忽略不计和微不足道。据推测，投资会导致资本的边际生产力为零，因为它超过了劳动力。一言以蔽之，就是资本偏见。此外，在生产中对复杂技能要求的偏见阻碍了低技能劳动力的进入。鉴于这些结果，我们得出结论，需要测试增量资本产出率 (ICOR)，以找出投资中涉及的其他复杂问题。此外，低技能劳动力的比较优势没有得到充分利用。为了克服这个问题，政策制定者应该确保吸收这种半熟练的人力资本。这需要在不损害产出的情况下，在合理范围内消除技能偏见和资本偏见。因此，该研究建议，后工业化国家可以通过培训、技术诀窍等增强人力资本，利用潜在的劳动力和资本来加速长期工业发展，从而实现可持续的工业发展。政策制定者应确保吸收此类半熟练人力资本。这需要在不损害产出的情况下，在合理范围内消除技能偏见和资本偏见。因此，该研究建议，后工业化国家可以通过培训、技术诀窍等增强人力资本，利用潜在的劳动力和资本来加速长期工业发展，从而实现可持续的工业发展。政策制定者应确保吸收此类半熟练人力资本。这需要在不损害产出的情况下，在合理范围内消除技能偏见和资本偏见。因此，该研究建议，后工业化国家可以通过培训、技术诀窍等增强人力资本，利用潜在的劳动力和资本来加速长期工业发展，从而实现可持续的工业发展。