Structuralist development macroeconomics

Luiz Carlos Bresser-Pereira () and Paulo Gala

Brazilian Journal of Political Economy, 2010, vol. 30, issue 4, 663-686

Abstract: This paper presents some basic ideas and models of a structuralist development macroeconomics (the tendencies to the overvaluation of the exchange rate and the tendency of wages to grow below productivity, the critique of growth with foreign savings, and a new model of the Dutch disease) that complement and actualize the thought of the Latin-American structuralist school that developed around ECLAC from the late 1940s to the 1960s. On the other hand, it suggests that a new national development strategy based on the experience of fast growing Asian countries is emerging; and argues that only the countries that adopt such strategy based on growth with domestic savings, fiscal and foreign trade responsibility and a competitive exchange rate will be able to catch up. JEL Classification: E10; E11; E12.

Keywords: Latin America; structuralism; development macroeconomics; national strategy; developmentalism (search for similar items in EconPapers)
Date: 2010
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