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Structuralist macroeconomics and new developmentalism

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  • Bresser-Pereira, Luiz Carlos (Luiz Carlos Bresser)

Abstract

This paper, first, presents some basic ideas and models of a structuralist development macroeconomics that complements and actualizes the thought of structuralist development economics that was dominant between the 1940s and the 1960s including in the World Bank. The new approach focus on the relation between the exchange rate and economic growth, and develops three interrelated models: the tendency to the overvaluation of the exchange, the critique of growth with foreign savings, and a model of the Dutch disease based on the existence of two exchange rate equilibriums: the “current” and the “industrial” equilibrium. Second, it summarizes “new developmentalism” – a sum of growth policies based on these models and on the experience of fast growing Asian countries

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Bibliographic Info

Paper provided by Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil) in its series Textos para discussão with number 298.

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Date of creation: 04 Aug 2011
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Handle: RePEc:fgv:eesptd:298

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  1. Gala, Paulo Sérgio de Oliveira Simões & Pereira, Luiz Carlos Bresser, 2008. "Why foreign savings fail to cause growth," Textos para discussão 159, Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
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Cited by:
  1. Luiz Carlos Bresser-Pereira, 2012. "Why Economics Should Be a Modest and Reasonable Science," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 46(2), pages 291-302, June.
  2. Alena Petrushkevich, 2013. "Russian Federation: Drivers and Challenges of Economic Growth and Development," Competence Centre on Money, Trade, Finance and Development 1305, Hochschule fuer Technik und Wirtschaft, Berlin.

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