The economics of New Developmentalism: A critical assessment

ABSTRACT This paper critically assesses the economics of New Developmentalism (ND). It begins by identifying and formalizing the principal components of ND which are identified as neutralizing Dutch disease, ending growth with foreign saving, development driven by a technologically advanced and internationally competitive manufacturing private sector, and getting macroeconomic prices right. It then examines four strands of critique consisting of internal economic logic critiques, Classical Developmentalism (CD) critiques, Keynesian and Neo-Kaleckian critiques, and the fighting the last war cri... Mehr ...