Arthur Lewis' Contribution to Development Thinking and Policy
AbstractArthur Lewis' seminal 1954 paper and its emphasis on dualism appeared at a time when neither the work of Keynes or Harrod-Domar nor the later neoclassical production function of Solow seemed relevant for developing countries. As a consequence, his model, rooted in the classical tradition, plus its many extensions, generated an extensive literature at the center of development theory. The approach also encountered increasingly strong criticism, some of the "red herring" variety, but some, spearheaded by neoclassical microeconomists like Rosenzweig, also raised serious challenges, focused especially on its labor market assumptions. This paper reviews this landscape and asks what theoretical or policy relevance the Lewis model retains for today's developing countries.
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Bibliographic InfoPaper provided by Economic Growth Center, Yale University in its series Working Papers with number 891.
Length: 19 pages
Date of creation: Aug 2004
Date of revision:
Development Theory; Dualism; Labor Markets;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-11-05 (All new papers)
- NEP-DEV-2005-11-05 (Development)
- NEP-HIS-2005-11-05 (Business, Economic & Financial History)
- NEP-HPE-2005-11-05 (History & Philosophy of Economics)
- NEP-PKE-2005-11-05 (Post Keynesian Economics)
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