Kaldor’s transition from growth to development economics: is there a role for Prebisch and ECLA?

Helder Lara Ferreira-Filho and José Luís Oreiro

Journal of Post Keynesian Economics, 2026, vol. 49, issue 1, 1-26

Abstract: Nicholas Kaldor is widely recognized for his seminal contributions to post-Keynesian growth theory. However, his intellectual trajectory reveals a significant transition from formal, full-employment-based growth models (such as those from 1957–1958) to a robust focus on the problems of development economics. This paper investigates the catalysts for this evolution, hypothesizing a probable role for Kaldor's interactions with Raúl Prebisch and the Economic Commission for Latin America (ECLA). The analysis traces the shift in Kaldorian thought, arguing that his 1956 visit to ECLA and his consulting experiences in developing countries (notably Chile) had an impact. We demonstrate how Kaldor progressively incorporated key elements of the structuralist agenda, including a critique of comparative advantage, the advocacy of industrialization as the engine of growth (based on increasing returns), the importance of balance-of-payments constraints, and the analysis of structural inflation. The article concludes that the dialogue with Prebisch and ECLA was part of Kaldor's transition from an economics of "growth" to an economics of "development".

Date: 2026
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DOI: 10.1080/01603477.2025.2582143

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