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    Structural Change Model PDF

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    Raymundo Eirah
    The document discusses structural change theory and models of economic development, including the Lewis model and Chenery's model. The Lewis model describes a dual-sector economy with subsistence and industrial sectors, and assumes surplus labor in the subsistence sector. Chenery's model outlines four strategies for transforming an agricultural economy to an industrial one through changes in production, consumer demand, international trade, and resource use.

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    Structural Change Model PDF

    Uploaded by

    Raymundo Eirah
    94 views10 pages
    The document discusses structural change theory and models of economic development, including the Lewis model and Chenery's model. The Lewis model describes a dual-sector economy with subsistence and industrial sectors, and assumes surplus labor in the subsistence sector. Chenery's model outlines four strategies for transforming an agricultural economy to an industrial one through changes in production, consumer demand, international trade, and resource use.

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    The document discusses structural change theory and models of economic development, including the Lewis model and Chenery's model. The Lewis model describes a dual-sector economy with subsistence and industrial sectors, and assumes surplus labor in the subsistence sector. Chenery's model outlines four strategies for transforming an agricultural economy to an industrial one through changes in production, consumer demand, international trade, and resource use.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    94 views10 pages

    Structural Change Model PDF

    Uploaded by

    Raymundo Eirah
    The document discusses structural change theory and models of economic development, including the Lewis model and Chenery's model. The Lewis model describes a dual-sector economy with subsistence and industrial sectors, and assumes surplus labor in the subsistence sector. Chenery's model outlines four strategies for transforming an agricultural economy to an industrial one through changes in production, consumer demand, international trade, and resource use.

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    JOYCE PANTE

    EIRAH RAYMUNDO

    Structural
    Change Theory

    Digital Advertising
    Approach
    STRUCTURAL CHANGE THEORY
    Structural
    Change
    Theory
    Structural Change Theory
    refers to the shift or
    change in the basic ways a
    market acts or functions,
    representing the entirety
    of the economy itself.
    Structural
    Change Models

    Lewis Model
    Media, Inc. | 202)
    McDowell Digital

    Patterns of
    Development
    Lewis Model
    Lewis model, initially known as
    the Dual-Sector Model, was
    enumerated by W. Arthur Lewis
    in his article titled "Economic
    Media, Inc. | 202)
    McDowell Digital

    Development with Unlimited


    Supplies of Labor" in 1954
    The Dual- Sector Model
    explains the growth of
    developing countries or
    economies in terms of labor
    transition. The movement of
    labor takes place between
    two sectors in which Lewis
    claimed to exist in an

    Media, Inc. | 202)


    McDowell Digital
    economy. These sectors are
    known as Subsistence and
    Industrial Sector
    EXPLORATORY
    MEETINGS

    Subsistence Sector of Economy


    A subsistence economy, commonly
    known as traditional or agricultural
    sector of the economy, is where
    basic needs of the people are
    fulfilled and met through acquisition
    and utilization of natural resources
    available on local level.
    INDUSTRIAL
    SECTOR

    Industrial sector of an
    economy usually receives
    end products from the
    traditional sector and
    consequently transforms it
    to a finished good catering
    the wide range of demand
    of the market
    1. THERE IS
    SURPLUS LABOR
    IN THE

    Assumptions
    SUBSISTENCE
    ECONOMY.

    of the Lewis
    Model 2. SAVINGS FOR
    INVESTMENT ARE
    CONSTANT.
    Patterns of
    Development
    The patterns-of-development
    analysis of structural change
    focuses on the sequential process
    through which the economic,
    industrial, and institutional
    structure of an underdeveloped
    economy is transformed over time
    to permit new industries to
    replace traditional agriculture as
    the engine of economic growth.
    TRANSFORMATION OF
    PRODUCTION FROM
    AGRICULTURAL TO INDUSTRIAL

    Chenery’s PRODUCTION
    CHANGING COMPOSITION OF THE
    model adopts CONSUMER DEMAND FROM
    EMPHASIS ON FOOD COMMODITIES
    four main AND OTHER CONSUMABLES TO
    DESIRE MULTIPLE MANUFACTURED
    strategies to GOODS AND SERVICES

    achieve INTERNATIONAL TRADE;


    CREATING A MARKET FOR ITS

    economic EXPORT

    growth
    USING RESOURCES AS WELL AS
    CHANGES IN SOCIO-ECONOMIC
    FACTORS AS THE DISTRIBUTION OF
    THE COUNTRY’S POPULATION

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