An extended dual economy model

Purpose The purpose of this paper is to introduce a new theoretical framework called the “extended dual economy model”. Based on the seminal work of Lewis (2014), the author uses it to explain the sectoral specialisation of home countries and their firms and MNEs. Design/methodology/approach The paper is multi-disciplinary and entirely conceptual, with cool ideas but very few numbers and equations. Findings Emerging economies exhibit a “duality”...