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.
References in periodicals archive ?
The Vanishing Middle Class - Prejudice and Power in a Dual Economy
Among the topics are the development of a dual economy, the demographic dividend, growing old before getting rich, the new engine of economic growth, human capital accumulation, and labor market institutions and social protections.
Hence, the author argues that as the island experienced a resurgence in racism due in part to the emergence of the dual economy and the reliance on tourism, Anglo-Caribbean Cubans revitalized their communities and sought transnational connections not just in the hope of material support but also to challenge the association between Blackness, inferiority, and immorality as their desire for social mobility, political engagement, and a better economic situation operated alongside the fight for Black respectability.
Limited developments in factory-based production, technology transfer and human resource development had already begun from the 1920s on the basis of the primary industries of rubber and tin, which in turn began to complicate the structure of the dual economy.
A Toulouse School of Economics paper titled "Barriers to Formal Entrepreneurship in Developing Countries" mentions in its introduction section: "Developing countries are characterized by a dual economy where a small modern industrialized sector co-exists with a large informal sector with little capital and low marginal productivity of labor.
The potential for Indian MNEs to grow requires an understanding of India's dual economy and the constraints from the home country's location advantages, particularly those in its knowledge infrastructure.
However useful it may once have been, the dual economy is now an obstacle to growth.
Rolf Gerritsen and his colleagues provide a fascinating glimpse of China's remarkable dual economy in which some sectors have been privatised, while many parts of the commanding heights remain under state ownership.
Kantu swiddeners had, at least for a sustained period of time, successfully combined swiddens with rubber cultivation in a dual economy.
It is a dual economy today, and there are long-term issues due to educational inequality," the consultant said.
I have seen that picture in many developing countries; economists have even given it a name, a dual economy.
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