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Problems of Financing Development Management: A Kaleckian Analysis

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  • Saumya Chakrabarti
  • Pratip Kumar Datta

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

Suggested Citation

  • Saumya Chakrabarti & Pratip Kumar Datta, 2019. "Problems of Financing Development Management: A Kaleckian Analysis," Review of Radical Political Economics, Union for Radical Political Economics, vol. 51(3), pages 457-476, September.
    • Handle: RePEc:sae:reorpe:v:51:y:2019:i:3:p:457-476
    DOI: 10.1177/0486613418820952
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    References listed on IDEAS

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    More about this item

    Keywords

    food constraint; foreign-exchange constraint; modern vs. peripheral employment conflict; growth vs. development-management conflict; balancing demand- and supply-side constraints;
    All these keywords.

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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