Problems of Financing Development Management: A Kaleckian Analysis

Saumya Chakrabarti and Pratip Kumar Datta

Review of Radical Political Economics, 2019, vol. 51, issue 3, 457-476

Abstract: Developing countries often suffer from problems of jobless growth and exclusion. In response, the governments of these countries implement a variety of development-management programs. However, we identify certain crucial macroeconomic inconsistencies that may arise from such initiatives. Given this, our basic proposition is that, while undertaking these programs, governments should consider the inherent demand- and (especially) supply-side capacities of the macroeconomy and the probable contradictions arising (chiefly) out of the supply constraints. Furthermore, governments should complement these development-management projects with other policy measures, so that such contradictions could at least be partially mitigated. Essentially, contrary to the misplaced orthodox opposition, we are proposing a Kaleckian critique of development management and simultaneously presenting some ways out. JEL Classifications: E11, J21, O11, O20, Q18

Keywords: food constraint; foreign-exchange constraint; modern vs. peripheral employment conflict; growth vs. development-management conflict; balancing demand- and supply-side constraints (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:51:y:2019:i:3:p:457-476

DOI: 10.1177/0486613418820952

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