HOW FEI-RANIS MODEL IS AN IMPROVEMENT OVER LEWIS MODEL ?? |DEVELOPMENT ECONOMICS | LEARN OIKONOMIA
This model discusses HOW FEI-RANIS MODEL IS AN IMPROVEMENT OVER LEWIS MODEL ??
There was a flaw in Lewis model that it did not pay enough attention to the importance of agricultural sector in promoting industrial growth. But Fei-Ranis (FR) model of dual economy explains how the increased productivity in agricultural sector would become helpful in promoting industrial sector.
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