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, produce investment goods. This policy was pursued to varying degrees by Egypt, India, Turkey, among others. The policy has a … Egypt's aggregate labor productivity gap with the United States during the 1960s …
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This paper elaborates on the evolution of the informal sector vis-à-vis the evolution of agricultural and formal sectors in a stylized developing country economy in process of growth. The analytical contribution of this essay extends the Ramsey theory of growth into a framework that includes an...
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