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Dual Economies

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Abstract

Dual economies have asymmetric sectors, the interaction between which influences the path of development. These are typically a rural, traditional, or agricultural sector on one hand, and an urban, modern, or industrial sector on the other. The relevant asymmetries are not merely technological but also include institutional, behavioural, and informational aspects. Modern treatments have grown out of the work of W. Arthur Lewis, whose model was based on the existence of surplus labour in agriculture. Subsequent authors have considered the implications of alternative assumptions for the development of a dual economy.

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Authors and Affiliations

  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    David Vines & Andrew Zeitlin

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  1. David Vines
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  2. Andrew Zeitlin
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Vines, D., Zeitlin, A. (2018). Dual Economies. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_307

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