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lewis turning point.tex
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lewis turning point.tex
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\documentclass{scrartcl}
\usepackage{amssymb}
\usepackage{amsmath}
\usepackage{tikz}
\usetikzlibrary{decorations.pathreplacing} %for brackets
%Das, M. \& N’Diaye, P. (2013). ``Chronicle of a Decline Foretold: Has China Reached the Lewis Turning Point?'' IMF Working Paper. Retrieved from http://www.imf.org/external/pubs/ft/wp/2013/wp1326.pdf
\begin{document}
%\begin{figure}
% \centering
\begin{tikzpicture}
%lines
\draw[<->,>=latex,semithick] (0,4)--(0,0)--(6.5,0)--(6.5,4); %axis
\draw[semithick,densely dashed] (0,2)--(6.5,2); %subsistence
\draw[semithick,densely dashed] (2.25,2)--(2.25,0); %vertical, left
\draw[semithick,densely dashed] (4.25,2)--(4.25,0); %vertical, right
\draw[semithick,blue] (0.9,3.25)--(4.35,0.1); %industrial MP
\draw[semithick,red] (5.6,3.25)--(2.15,0.1); %agri MP
\filldraw (4.25,2) circle (2.5pt); %turning point
%upper labels
\node at (0,4.15) {\small $w$}; %wages
\node at (6.8,0.05) {\small $L$}; %labor force
\node at (-.85,2.05) {\scriptsize Subsistence};
\node at (-0.8,1.7) {\scriptsize wage};
\node at (4.85,1.8) {\scriptsize turning};
\node at (4.85,1.5) {\scriptsize point};
\node at (0.9,3.65) {\textcolor{blue}{\scriptsize industrial}};
\node at (0.9,3.40) {\textcolor{blue}{\scriptsize sector MP}};
\node at (5.6,3.65) {\textcolor{red}{\scriptsize agricultural}};
\node at (5.6,3.40) {\textcolor{red}{\scriptsize sector MP}};
%lower labels
\draw[decorate,decoration={brace,amplitude=3pt},yshift=-4pt,semithick] (2.15,0)--(0.1,0);
\draw[decorate,decoration={brace,amplitude=3pt},yshift=-4pt,semithick] (4.15,0)--(2.35,0);
\draw[decorate,decoration={brace,amplitude=3pt},yshift=-4pt,semithick] (6.4,0)--(4.35,0);
\node at (1.125,-0.5) {\scriptsize Industrial sector};
\node at (1.125,-0.8) {\scriptsize employment};
\node at (3.250,-0.5) {\scriptsize surplus labor};
\node at (5.450,-0.5) {\scriptsize Agricultural sector};
\node at (5.450,-0.8) {\scriptsize employment};
\end{tikzpicture}
% \caption{The Lewis dual-sector model}
%\end{figure}
\end{document}