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New-Structuralist Exchange-Rate Policy and the Pattern of Specialization in Latin American Countries

Ariel Dvoskin (), German Feldman () and Guido Ianni ()
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Ariel Dvoskin: National University of San Martín
Guido Ianni: National University of San Martín

No CSWP28, Centro Sraffa Working Papers from Centro di Ricerche e Documentazione "Piero Sraffa"

Abstract: The present article critically examines the transmission channels between the real exchange rate and output growth adduced by the so-called New-Structuralist doctrine. It is shown that the assumptions under which the mechanisms work are highly restrictive, and hence, are generally inadequate to ex-plore the problem of economic development in Latin American peripheral countries. In view of this, the potential risks associated with a policy of devaluation are warned.

Keywords: Dual economies; Economic growth; New-Structuralism; Pattern of Specialization; Real Exchange Rate (search for similar items in EconPapers)
JEL-codes: B22 E11 F43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2018-02
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