Economic Growth and Development A Dynamic Dual Economy Approach
Growth theory provides a rich and versatile analytical framework through which fundamental questions about economic development can be examined. This book is an introduction to the newer features of growth theory that are particularly useful in examining
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Sibabrata Das Alex Mourmouras Peter C. Rangazas
Economic Growth and Development A Dynamic Dual Economy Approach
Springer Texts in Business and Economics
More information about this series at http://www.springer.com/series/10099
Sibabrata Das Alex Mourmouras Peter C. Rangazas •
Economic Growth and Development A Dynamic Dual Economy Approach
123
Sibabrata Das International Monetary Fund Washington, DC USA Alex Mourmouras Asia and Pacific Department International Monetary Fund Washington, DC USA
Peter C. Rangazas Indiana University-Purdue University Indianapolis (IUPUI) Indianapolis, IN USA
Additional material to this book can be downloaded from http://extras.springer.com.
ISSN 2192-4333 ISSN 2192-4341 (elctronic) Springer Texts in Business and Economics ISBN 978-3-319-14264-7 ISBN 978-3-319-14265-4 (eBook) DOI 10.1007/978-3-319-14265-4 Library of Congress Control Number: 2014958888 Springer Cham Heidelberg New York Dordrecht London © Springer International Publishing Switzerland 2015 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer International Publishing AG Switzerland is part of Springer Science+Business Media (www.springer.com)
Contents
1
Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.1 Why a Two-Sector Approach. . . . . . . . . . . . . . . . . . . 1.2 Early Theory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 Outline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.4 Stylized Facts Associated with Economic Development. 1.5 Policies Examined . . . . . . . . . . . . . . . . . . . . . . . . . . References . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part I 2
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