Structuralist macroeconomics and the new developmentalism

Luiz Carlos Bresser-Pereira ()

Brazilian Journal of Political Economy, 2012, vol. 32, issue 3, 347-366

Abstract: This paper first presents some basic ideas and models of a structuralist development macroeconomics that complements and actualizes the ideas of the structuralist development economics that was dominant between the 1940s and the 1960s. A system of three models focusing on the exchange rate (the tendency to the cyclical overvaluation of the exchange rate, a critique of growth with foreign savings, and new a model of the Dutch disease) shows that it is not just volatile but chronically overvalued, and for that reason it is not just a macroeconomic problem; as a long term disequilibrium, it is in the core of development economics. Second, it summarizes “new developmentalism” – a sum of growth policies based on these models and on the experience of fast-growing Asian countries. JEL Classification: E0; E19; O11; B22.

Keywords: structuralism; development macroeconomics; exchange rate; developmentalism (search for similar items in EconPapers)
Date: 2012
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Working Paper: Structuralist macroeconomics and new developmentalism (2011)
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