Abstract
One sector models of growth do a poor job accounting for the variety of growth experience around the world. Newer approaches hark back to the dual-economy tradition of development economics, emphasizing the dichotomy between the traditional and modern parts of the economy and the movement of resources from one to the other. Industrialization is a key element in this process, as it has played a crucial role in almost all the rapidly growing countries during the post-war period. My presentation will review the evidence that is developing around these issues and discuss the prognosis for the future.
