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More on the limits of New Developmentalism

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  • Thomas Palley

Abstract

Oreiro and de Paula’s (2022) reply to my article (Palley, 2021) further convinces me that New Developmentalism (ND) substantially misconstrues the development challenge and ND’s policy recommendations lean in a Neoliberal direction. The critique of ND is not its emphasis of the importance of manufacturing. It is the regressive inclination, the narrowness of policy recommendations, neglect of the transformation dimension of development, and neglect of the implications of the shift to a post-industrial era.

Suggested Citation

  • Thomas Palley, 2022. "More on the limits of New Developmentalism," Working Papers PKWP2213, Post Keynesian Economics Society (PKES).
    • Handle: RePEc:pke:wpaper:pkwp2213
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    File URL: https://www.postkeynesian.net/downloads/working-papers/PKWP2213.pdf
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    References listed on IDEAS

    as
    1. Thomas Palley, 2003. "Pitfalls in the Theory of Growth: An application to the balance of payments constrained growth model," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 75-84.
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    5. Journal of Economics Bibliography, 2016. "New Economics Journals," Journal of Economics Bibliography, KSP Journals, vol. 3(3), pages 521-529, September.
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    7. Carlos Aguiar de Medeiros, 2020. "A Structuralist and Institutionalist developmental assessment of and reaction to New Developmentalism," Review of Keynesian Economics, Edward Elgar Publishing, vol. 8(2), pages 147-167, April.
    8. Gilberto Tadeu Lima & Laura Carvalho & Gustavo Pereira Serra, 2021. "Human capital accumulation, income distribution, and economic growth: a demand-led analytical framework," Review of Keynesian Economics, Edward Elgar Publishing, vol. 9(3), pages 319-336, July.
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    More about this item

    Keywords

    New Developmentalism; Classical Developmentalism; economic development; transformation;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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