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Globalization and Competition


  • Bresser Pereira,Luiz Carlos


Globalization and Competition explains why some middle-income countries, principally those in Asia, grow fast while others are not successful. The author criticizes both old-style developmentalism and the economics of the Washington Consensus. He argues instead for a 'new developmentalism' or third approach that builds on a national development strategy. This approach differs from the neoliberal strategy that rich nations propose to emerging economies principally on macroeconomic grounds. Developing countries face a key obstacle to growth, namely, the tendency to overvaluate foreign exchange. Instead of neutralizing it, the policy that rich countries promote mistakenly seeks growth through foreign savings, which causes additional appreciation of the national currency and often results in financial crises rather than genuine investment.

Suggested Citation

  • Bresser Pereira,Luiz Carlos, 2010. "Globalization and Competition," Cambridge Books, Cambridge University Press, number 9780521196352, May.
  • Handle: RePEc:cup:cbooks:9780521196352

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    References listed on IDEAS

    1. Prebisch, Raúl, 1950. "The economic development of Latin America and its principal problems," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 29973, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Justin Yifu Lin, 2011. "New Structural Economics: A Framework for Rethinking Development," World Bank Research Observer, World Bank Group, vol. 26(2), pages 193-221, August.
    3. Justin Yifu Lin, 2012. "New Structural Economics : A Framework for Rethinking Development and Policy," World Bank Publications, The World Bank, number 2232.
    4. Lin, Justin Yifu, 2003. "Development Strategy, Viability, and Economic Convergence," Economic Development and Cultural Change, University of Chicago Press, vol. 51(2), pages 276-308, January.
    5. Dirk Willem te Velde & Justin Lin & Célestin Monga & Suresh D. Tendulkar & Alice Amsden & K. Y. Amoako & Howard Pack & Wonhyuk Lim, 2011. "DPR Debate: Growth Identification and Facilitation: The Role of the State in the Dynamics of Structural Change," Development Policy Review, Overseas Development Institute, vol. 29(3), pages 259-310, May.
    6. Lin, Justin Yifu, 1992. "Rural Reforms and Agricultural Growth in China," American Economic Review, American Economic Association, vol. 82(1), pages 34-51, March.
    7. Gene M. Grossman & Elhanan Helpman, 1996. "Electoral Competition and Special Interest Politics," Review of Economic Studies, Oxford University Press, vol. 63(2), pages 265-286.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Luiz Carlos Bresser-Pereira, 2016. "Reflecting on new developmentalism and classical developmentalism," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(3), pages 331-352, July.
    2. Luiz Bresser-Pereira, 2012. "Why Economics Should Be a Modest and Reasonable Science," Journal of Economic Issues, Taylor & Francis Journals, vol. 46(2), pages 291-302.
    3. Pereira, Luiz C. Bresser, 2017. "How to neutralize the Dutch disease notwithstanding the natural resources curse," Textos para discussão 452, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    4. Franklin Serrano & Ricardo Summa, 2015. "Measuring Recovery: Aggregate Demand and the Slowdown of Brazilian Economic Growth from 2011-2014," CEPR Reports and Issue Briefs 2015-19, Center for Economic and Policy Research (CEPR).
    5. repec:nov:artigo:v:25:y:2015:i:spe:p:803-833 is not listed on IDEAS
    6. Frenkel, Roberto & Rapetti, Martin, 2014. "The real exchange rate as a target of macroeconomic policy," MPRA Paper 59335, University Library of Munich, Germany.
    7. Pereira, Luiz C. Bresser, 2017. "Secular stagnation in the framework of rentier-financier capitalism and globalization," Textos para discussão 463, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    8. Luiz Carlos Bresser-Pereira, 2010. "The global financial crisis and a new capitalism?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 32(4), pages 499-534, July.
    9. Pereira, Luiz C. Bresser, 2013. "Development, progress and economic growth," Textos para discussão 350, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    10. André Nassif & Carmem Feijó & Eliane Araújo, 2015. "Structural change and economic development: is Brazil catching up or falling behind?," Cambridge Journal of Economics, Oxford University Press, vol. 39(5), pages 1307-1332.
    11. José Luis Oreiro & Fabricio Missio & Frederico G. Jayme Jr., 2015. "Capital Accumulation, Structural Change and Real Exchange Rate in a Keynesian-Structuralist Growth Model," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 62(2), pages 237-256, June.
    12. James Scott, 2012. "Squeezing the state: tariff revenue, state capacity and the WTO’s Doha Round," Brooks World Poverty Institute Working Paper Series 16912, BWPI, The University of Manchester.
    13. Thomas Goda & Alejandro Torres García, 2015. "Flujos de capital, recursos naturales y enfermedad holandesa: el caso colombiano," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 33(78), pages 197-206, Diciembre.
    14. Robert A. Blecker, 2013. "Economic Stagnation in the United States: Underlying Causes and Global Consequences," Working Papers 2013-16, American University, Department of Economics.
    15. Pereira, Luiz C. Bresser, 2009. "The global financial crisis and after: a new capitalism?," Textos para discussão 240, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    16. Franklin Serrano & Ricardo Summa, 2011. "Macroeconomic Policy, Growth and Income Distribution in the Brazilian Economy in the 2000s," CEPR Reports and Issue Briefs 2011-13, Center for Economic and Policy Research (CEPR).
    17. Pereira, Luiz C. Bresser, 2016. "Why the ‘Rest’ doesn’t need foreign finance," Textos para discussão 415, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    18. repec:wea:worler:v:2012:y:2012:i:1:p:3 is not listed on IDEAS
    19. André Nassif & Carmem Feijó & Eliane Araújo, 2011. "The trend of the real exchange rate overvaluation in open emerging economies: the case of Brazil," Working Papers 0111, Universidade Federal do Paraná, Department of Economics.
    20. Pereira, Luiz C. Bresser, 2012. "State–society cycles and political pacts in a national–dependent society: Brazil," Textos para discussão 317, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    21. Leonardo Burlamaqui, 2016. "Finance, Development And The Chinese Entrepreneurial State," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42ndd Brazilian Economics Meeting] 072, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    22. Palma, J.G., 2012. "Was Brazil's recent growth acceleration the world's most overrated boom?," Cambridge Working Papers in Economics 1248, Faculty of Economics, University of Cambridge.
    23. James Scott & Rorden Wilkinson, 2012. "Changing of the guard: expert knowledge and ‘common sense’ in the Doha Development Agenda," Brooks World Poverty Institute Working Paper Series 16612, BWPI, The University of Manchester.
    24. Pereira, Luiz C. Bresser, 2017. "The economics and the political economy of new-developmentalism," Textos para discussão 464, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).

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