A Study on Structure of the Economy of Udalguri Sub-Division, Assam (India)

Abstract

The structure of an economy comprises the characteristic features of and the interrelationships among its constituent parts and subsystems. These characteristic features and interrelationships typify the economy and give to it a style, an appearance and individuality of its own. The structure of an economy evolves over time; it determines economic development as well as it is modified by the level of development the economy attains. Economic development is partly determined by the indigenous conditions and forces, and partly by the exogenous influences including the inflow of resources such as labour, capital, skill, technology, knowledge and information, contingent upon the openness of the economy to such external influences. Douglass North holds that the structure of an economy is determined by the resource base, infrastructure, technology and institutions. This study empirically presents the structural changes in the economy of a less developed region of Assam, India.