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An account of new developmentalism and its structuralist macroeconomics

Author

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  • Luiz Carlos Bresser-Pereira

Abstract

This is a personal account of the identification and definition of “new developmentalism” – a national development strategy alternative to the Washington consensus –, and of a “structuralist development macroeconomics”: the sum of concepts and models that justifies theoretically that strategy. It is personal account of a collective work involving Keynesian, institutionalist and structuralist economists in Brazil. It is Keynesian because it emphasizes the demand side or the investment opportunities’ side of economic growth. It is structuralist because it defines economic development as a structural change from low to high value added per capita industries and because it is based on two structural tendencies that limit investment opportunities: the tendency of wages to grow below productivity and the tendency to the cyclical overvaluation of the exchange rate. JEL Classification: B22; B31.

Suggested Citation

  • Luiz Carlos Bresser-Pereira, 2011. "An account of new developmentalism and its structuralist macroeconomics," Brazilian Journal of Political Economy, Center of Political Economy, vol. 31(3), pages 493-502.
    • Handle: RePEc:ekm:repojs:v:31:y:2011:i:3:p:493-502:id:417
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/417/407
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    Citations

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    Cited by:

    1. Judit Ricz, 2015. "Towards a new model of state-led development in Brazil (?)," IWE Working Papers 215, Institute for World Economics - Centre for Economic and Regional Studies.
    2. Salvatore Monni & Massimo Pallottino, 2013. "Beyond growth and development: Buen Vivir as an alternative to current paradigms," Departmental Working Papers of Economics - University 'Roma Tre' 0172, Department of Economics - University Roma Tre.
    3. Laurids S. Lauridsen, 2018. "New economic globalization, new industrial policy and late development in the 21st century: A critical analytical review," Development Policy Review, Overseas Development Institute, vol. 36(3), pages 329-346, May.
    4. Pedro Mendes Loureiro, 2016. "Reformism, Class Conciliation And The Pink Tide: Prospects For The Working Classes Under Left-Of-Centre Governments In Latin America," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 020, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

    More about this item

    Keywords

    macroeconomics; structuralism; developmentalism; history of economic thought;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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