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Great Controversies: Developing the Domestic Market

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  • Thomas Palley

Abstract

The model on which the world's most influential financial institutions base their development policies emphasizes export-led growth and supplyside development. It pays no attention to developing the domestic demand of economies, yet it is critical to growth. A fundamental political obstacle to incorporating demand-side development concerns into policy is that it would place the IMF and the World Bank at odds with their global political paymasters.

Suggested Citation

  • Thomas Palley, 2006. "Great Controversies: Developing the Domestic Market," Challenge, Taylor & Francis Journals, vol. 49(6), pages 20-34.
    • Handle: RePEc:mes:challe:v:49:y:2006:i:6:p:20-34
    DOI: 10.2753/0577-5132490602
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    References listed on IDEAS

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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Dani Rodrik, 1998. "Has Globalization Gone Too Far?," Challenge, Taylor & Francis Journals, vol. 41(2), pages 81-94, March.
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    Cited by:

    1. Wolf, Christina, 2023. "Demand-growth in support of structural change: Evidence from Nigeria's formal manufacturing sector," Structural Change and Economic Dynamics, Elsevier, vol. 67(C), pages 347-358.

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