Structural Change - SPUR ECONOMICS

Development Economics / Structural Change

Fei and Ranis Model of Structural Change

Similar to the Lewis Model, the structural change theory by Fei and Ranis attempts to explain the transition of underdeveloped agricultural economies with surplus labour into industrialised economies. The Fei…

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September 15, 2022

Development Economics / Structural Change

Lewis Model of Structural Change

Nobel Laureate Arthur Lewis introduced a model of structural change in the 1950s. The Lewis Model of Structural Change focussed on the structural transformation of a subsistence agricultural economy with…

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September 14, 2022

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