dual economy


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dual economy

an economy in which capital-intensive and technologically advanced sectors exist in mutual cohabitation with labour-intensive and technologically primitive sectors. An area of study within DEVELOPMENT ECONOMICS, the problem is whether to achieve ECONOMIC GROWTH through leading technological sectors or to attempt to spread an economy's resources more thinly across all sectors to achieve balanced growth. The concept is mainly applied within the context of a DEVELOPING COUNTRY. See INDUSTRIALIZATION.
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