Prethodno priopćenje
https://doi.org/10.30924/mjcmi.27.1.5
New and old dual economy
Milenko Popović
; ISEA – Institute for Socio-Economic Analyses & FDES – Faculty of Administrative and European Studies, Montenegro
Ivan Radević
orcid.org/0000-0003-2810-5579
; University of Montenegro, Faculty of Economics, Podgorica Montenegro
Sažetak
This paper aims to provide a possible explanation for the strange reoccurrence of the dual economy in developed countries. The dual economy is understood as consisting mainly of two sectors that differ in productivity, salaries, and related characteristics. It was hypothesized there is a relationship between secular stagnation, the slowdown in productivity growth, stagnation in wages, and the dual economy’s reoccurrence. In explaining this relationship, technological progress and the process of globalization, which have been prevalent in recent decades, play a crucial role. It is concluded that the era of the new dual economy and the productivity paradox represents a particular phase of economic growth. Since the phenomenon of the reoccurrence of the dual economy in developed countries has been noticed and studied only recently, further research is needed, focusing on the empirical studies.
Ključne riječi
dual economy; producivity paradox; secular stagnation
Hrčak ID:
275131
URI
Datum izdavanja:
28.6.2022.
Posjeta: 703 *