The Harris-Todaro model.

The Harris-Todaro model is an economic model developed by economists John Harris and Michael Todaro in the late 1960s. This model is used to analyze rural-to-urban migration in developing countries and provides insights into the labor market and income disparities between urban and rural areas. The model is particularly relevant for understanding the structural transformation and labor market dynamics in these countries.

Key components of the Harris-Todaro model include:

1. Rural and Urban Labor Markets:

   • The model assumes two distinct labor markets: a rural labor market and an urban labor market.
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