The paper addresses the question of optimal development of a developing economy. The framework presented, it is believed, can be of help in thinking about 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.
Bhattacharya, P. C. (2017). A Model of Optimal Development for an Economy with an Informal Sector. Journal of Applied Mathematics and Physics, 5(9), 1808-1824. . https://doi.org/10.4236/jamp.2017.59153