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New-Structuralist Exchange-Rate Policy and the Pattern of Specialization in Latin American Countries

Author

Listed:
  • Dvoskin, Ariel

    () (National University of San Martín)

  • Feldman, Germán David

    () (National University of San Martín)

  • Ianni, Guido

    () (National University of San Martín)

Abstract

The present article critically examines the transmission channels between the real exchange rate and output growth adduced by the so-called New-Structuralist doctrine. It is shown that the assumptions under which the mechanisms work are highly restrictive, and hence, are generally inadequate to ex-plore the problem of economic development in Latin American peripheral countries. In view of this, the potential risks associated with a policy of devaluation are warned.

Suggested Citation

  • Dvoskin, Ariel & Feldman, Germán David & Ianni, Guido, 2018. "New-Structuralist Exchange-Rate Policy and the Pattern of Specialization in Latin American Countries," Centro Sraffa Working Papers CSWP28, Centro di Ricerche e Documentazione "Piero Sraffa".
  • Handle: RePEc:ris:sraffa:0028
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Dual economies; Economic growth; New-Structuralism; Pattern of Specialization; Real Exchange Rate;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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