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Fei-Ranis (FR) Model of Dual Economy

Fei-Ranis (FR) Model of Dual Economy. Lecture 19. The two economists John Fei and Gustav Ranis presented their dual economy model. There was a flaw in Lewis model that it did not pay enough attention to the importance of agriculture sector in promoting industrial growth.

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Fei-Ranis (FR) Model of Dual Economy