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Harrod-Domar Dilemma, Thirlwall’s Law and Green New Developmentalism

Author

Listed:
  • Chiara Grazini
  • Giulio Guarini
  • José Luis Oreiro

Abstract

The article aims to address the ecological transition into a model that integratesthe Harrod-Domar Dilemma and the New Developmentalism according to a Green New Developmentalismperspective. To this end, this paper focuses on the green sides of the middleincomecountries’ traps by introducing a novel concept of the ecologically sustainable outputgrowth rate into the new developmentalism model developed by Oreiro (2023) to identify abalanced ecological growth path. Compensating for the price competitiveness losses produced by the exchange rate over-valuation, Ecological Structural Change and green financeallow for reversing the process of premature de-industrialization by improving the competitivenessof the manufacturing sector. JEL Classification: E12; Q56; Q57; O11; O44.

Suggested Citation

  • Chiara Grazini & Giulio Guarini & José Luis Oreiro, 2024. "Harrod-Domar Dilemma, Thirlwall’s Law and Green New Developmentalism," Brazilian Journal of Political Economy, Center of Political Economy, vol. 44(4), pages 679-697.
    • Handle: RePEc:ekm:repojs:v:44:y:2024:i:4:p:679-697:id:2477
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2477/2409
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    More about this item

    Keywords

    Green New Developmentalism; ecological structural change; Harrod-Domar dilemma; Thirlwall’s law;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth

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