Introduction: The Dual Economy Approach to Economic Growth and Development
AbstractThis volume contains papers that use a two-sector approach to studying economic growth. Many economists believe taking such an approach is essential, especially for understanding the early stages of development. A two-sector model generates important insights about both the accumulation of physical and human capital (Mankiw et al. 1992) and improvements in total factor productivity (TFP) (Hall and Jones, 1999; Parente and Prescott, 2000). The main premise is that the structural transformation of an economy, as one sector expands and another contracts, is a fundamental cause, and not just a by-product, of aggregate growth.
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Bibliographic InfoArticle provided by Eurasia Business and Economics Society in its journal Eurasian Economic Review.
Volume (Year): 3 (2013)
Issue (Month): 1 (Spring)
Economic Growth and Development; Structural Change; Dual Economy; Agricultural Labor Productivity; Wage Gaps;
Find related papers by JEL classification:
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O50 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - General
- J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
- J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
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