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The New Developmentalism and the challenge for 2019: to overcome the structural stagnation of the Brazilian economy

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  • João Villaverde
  • José Marcio Rego

Abstract

This paper relates the differences and the similarities between the classic developmentalism and the New Developmentalism. It discusses the next steps for the new theory to persevere in the current Brazilian context. To this end, a diagnosis of what we call "Accidental Developmentalism", initiated at the end of the 19th century in Brazil, was also made in the first part of the paper, which was sown as a basis for the classic developmentalism. Effectively put in place between 1930 and 1980, Developmentalism was later adopted again during the failed economic policy of Dilma Rousseff administration. Finally, we discuss the challenges for the New Developmentalism having the critical 2018 elections as background. JEL Classification: A10; B1; B2; B5; B52; E60.

Suggested Citation

  • João Villaverde & José Marcio Rego, 2019. "The New Developmentalism and the challenge for 2019: to overcome the structural stagnation of the Brazilian economy," Brazilian Journal of Political Economy, Center of Political Economy, vol. 39(1), pages 108-127.
    • Handle: RePEc:ekm:repojs:v:39:y:2019:i:1:p:108-127:id:28
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    Keywords

    Brazilian economy; economic development; New Developmentalism; democracy; developing countries; State;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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