Dual economy models: a primer for growth economists
AbstractThis paper argues that dual economy models deserve a central place in the analysis of growth in developing countries. The paper shows how these models can be used to analyze the output losses associated with factor mis-allocation, aggregate growth in the presence of factor market distortions, international differences in sectoral productivity, and the potential role of increasing returns to scale. Above all, small-scale general equilibrium models can be used to investigate the interactions between growth and labour markets, to shed new light on the origins of pro-poor and labour-intensive growth, and to explore the role of the informal sector.
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Bibliographic InfoPaper provided by Department of Economics, University of Bristol, UK in its series Bristol Economics Discussion Papers with number 05/574.
Length: 46 pages
Date of creation: Jun 2005
Date of revision:
dual economies; factor market distortions; wage differentials; informal sector.;
Other versions of this item:
- Jonathan Temple, 2005. "Dual Economy Models: A Primer For Growth Economists," Manchester School, University of Manchester, vol. 73(4), pages 435-478, 07.
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General
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