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Friedrich List and Dutch Disease: two sides of the same coin?

Author

Listed:
  • Kunibert Raffer

Abstract

Comparing List’s development problem to Dutch Disease, as generalized by Bresser-Pereira, one sees quite a few similarities. While the exchange rate was understandably of no concern to List, it is meanwhile one if not the most important determinant of trade flows. This generalized Dutch Disease approach is a valuable contribution to the debate on appropriate economic policies in Southern countries. It shows a way to counter maldevelopments. It certainly deserves further discussion because quite a few countries suffer from it. Bresser’s arguments fit very well into other unorthodox approaches that also tried to counter the inefficiency of really existing markets with workable proposals, which orthodoxy has quite successfully supressed. This paper also makes a proposal that might help for agro-exporting countries. JEL Classification: F10; O10; B50.

Suggested Citation

  • Kunibert Raffer, 2020. "Friedrich List and Dutch Disease: two sides of the same coin?," Brazilian Journal of Political Economy, Center of Political Economy, vol. 40(3), pages 493-509.
    • Handle: RePEc:ekm:repojs:v:40:y:2020:i:3:p:493-509:id:2036
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2036/2021
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    More about this item

    Keywords

    Dutch Disease; List; infant industry; unorthodox approaches; exchange rate;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General

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