1. The Lewis Model of Development
... from the rural agricultural sector to the urban manufacturing sector in developing countries. This process in the dual sectors is driven by labor transfers (migration) and capital accumulation. W. Arthur Lewis in his work on 'Economic development with unlimited supplies of labor' (1954) analyzed the labor market dualism and the structural difference between the subsistence sector and capitalistic sector ... as the subsistence and capitalistic sectors, originally and then they were also known as the traditional and modern sectors. Afterwards, the Lewis model was formalized and extend...
- Word Count: 4558
- Approx Pages: 18
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- Grade Level: Undergraduate