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2015 | OriginalPaper | Buchkapitel

7. A Complete Dual Economy

verfasst von : Sibabrata Das, Alex Mourmouras, Peter C. Rangazas

Erschienen in: Economic Growth and Development

Verlag: Springer International Publishing

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Abstract

In this chapter we combine the main features introduced in previous chapters into a complete dual economy model. The model includes physical and human capital, fertility, wage gaps, and technological change. We then examine the ability of the model to replicate key features of the economic growth observed in real-world economies.

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Vorheriges Kapitel Physical Capital in Dual Economies

Nächstes Kapitel Urbanization

Across today’s developing countries, high percentages of the poor operate small businesses: 50 % for urban poor and 25–98 % for rural poor (Banerjee and Duflo 2011, p. 135). La Porta and Schleifer (2014) estimate the informal sector accounts for 30–40 % of economic activity in poor countries and an even higher share of employment.

In more realistic models of human capital accumulation the schooling takeoff can be generated in ways other than through compulsory schooling or child labor laws. See Chap. 3 for discussions of how schooling could be increased using subsidies, including tuition subsidies.

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Titel: A Complete Dual Economy
verfasst von: Sibabrata Das
Alex Mourmouras
Peter C. Rangazas
Verlag: Springer International Publishing
Buch: Economic Growth and Development
Print ISBN: 978-3-319-14264-7

Electronic ISBN: 978-3-319-14265-4

Copyright-Jahr: 2015
DOI: https://doi.org/10.1007/978-3-319-14265-4_7