Structuralist development macroeconomics

Vol. 30 No. 4 (2010)

Oct-Dec / 2010
Published October 1, 2010
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Bresser-Pereira, Luiz Carlos, and Paulo Gala. 2010. “Structuralist Development Macroeconomics”. Brazilian Journal of Political Economy 30 (4):663-86. https://centrodeeconomiapolitica.org/repojs/index.php/journal/article/view/464.

Structuralist development macroeconomics

Luiz Carlos Bresser-Pereira
Escola de Economia de São Paulo da Fundação Getulio Vargas
Paulo Gala
Escola de Economia de São Paulo da Fundação Getulio Vargas
Brazilian Journal of Political Economy, Vol. 30 No. 4 (2010), Oct-Dec / 2010, Pages 663-686

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.


Keywords: Latin America structuralism development macroeconomics national strategy developmentalism