ABSTRACT
The Ricardian model of the second part of the 1954 paper, amplified and applied in the Lewis (1969) Wicksell Lectures, and its relation to the dual economy model of the first part, raise some fascinating issues that I have examined elsewhere.' My intention in this chapter is, first, to briefly sketch how the dual economy model can be extended to an open economy, and then to investigate the question of how protection affects the rate of growth in this context. This seems to me to be a question of major interest, if we believe the dual economy model applicable to at least a good part of the developing world, in view of the extensive controversy on 'inward-looking' versus 'outwardlooking' strategies of development and the considerable empirical research that has been devoted to this issue.
