Dual economy

All you want to know about Dual economy

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A dual economy is the existence of two separate economic systems within one country. Dual economies are common in less developed countries, where one system is geared to local needs and another to the global export market.

Dual economies need not be across economic sector boundaries. An example of a dual economy within the same sector is a modern plantation or other commercial agricultural entity operating in the midst of traditional cropping systems.

A dual economy involves two different sectors of a country growing at different rates.