A Model of Optimal Development

Prabir Bhattacharya ()
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Prabir Bhattacharya: Heriot-Watt University

Chapter Chapter 4 in Informal Sector in Economic Development, 2024, pp 65-85 from Springer

Abstract: Abstract This chapter presents a model of optimal development to study the properties of the steady state and the optimal growth path of an economy with an informal sector. The framework presented sheds important lights on appropriate policies relating, inter alia, to population growth, inter-sectoral migration, agriculture-industry relationship, wages in different sectors and income distribution in an inter-connected way in the context of optimal development of an economy with an informal sector.

Keywords: Optimal development; Informal sector; Income distribution; Numerical examples (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-60243-6_4

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DOI: 10.1007/978-3-031-60243-6_4

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