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Lewis Model of Economic Development Explained by sumitrachakma14 is a document available to read on EtoBox.
The Lewis Model, developed by Sir Arthur Lewis, explains economic development in dual economies, particularly in underdeveloped countries (UDCs), focusing on the transformation from traditional agricultural sectors to modern industrial ones. It highlights the existence of surplus labor in the agricultural sector, which can be absorbed by the expanding industrial sector, leading to capital accumulation and wage increases until the
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- sumitrachakma14
- Language
- EN