*Department of Economics, Ravenshaw University, Cuttack, Odisha, India.
**Berhampur University, Ganjam, Odisha, India.
The objective of the paper is to analyse the elasticity of output on employment and investment in the manufacturing industries of Odisha. The study is based on secondary data relating to output, investment and employment drawn from the Annual Survey of Industries (ASI) using estimated the Cobb-Douglas production function. The result shows that the Elasticity of output with respect to investment is more compared to that with respect to employment in industries like Manufacture of Basic Iron and Steel, beverages soft drinks and syrup, paper and paper products, manufacturer of plastic products, Manufacturer of Tobacco products, processing preserving of fruits and vegetables and spinning weaving and finishing of textile. It implies that the productivity of capital is more in the former category of industries. In case of employment elasticity it is highest in Manufacture of sawing and planning of wood followed by manufacturer of general purpose machinery. Though the productivity of capital has increased, it has not helped to create more jobs and has rendered the growth jobless.
Elasticity, Employment, Investment, Output, Productivity
