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Structuralist development macroeconomics

Author

Listed:
  • Luiz Carlos Bresser-Pereira
  • Paulo Gala

Abstract

This paper presents some basic ideas and models of a structuralist development macroeconomics (the tendencies to the overvaluation of the exchange rate and the tendency of wages to grow below productivity, the critique of growth with foreign savings, and a new model of the Dutch disease) that complement and actualize the thought of the Latin-American structuralist school that developed around ECLAC from the late 1940s to the 1960s. On the other hand, it suggests that a new national development strategy based on the experience of fast growing Asian countries is emerging; and argues that only the countries that adopt such strategy based on growth with domestic savings, fiscal and foreign trade responsibility and a competitive exchange rate will be able to catch up. JEL Classification: E10; E11; E12.

Suggested Citation

  • Luiz Carlos Bresser-Pereira & Paulo Gala, 2010. "Structuralist development macroeconomics," Brazilian Journal of Political Economy, Center of Political Economy, vol. 30(4), pages 663-686.
    • Handle: RePEc:ekm:repojs:v:30:y:2010:i:4:p:663-686:id:464
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    More about this item

    Keywords

    Latin America; structuralism; development macroeconomics; national strategy; developmentalism;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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