New Developmentalism as a Weberian Ideal Type

this chapter discusses the differences between the concept of what it labels as “new developmentalism” and the traditional “old” developmentalism—the theory and policy derived from the work of the pioneers of development economics. It is argued that the most important difference between these two forms of developmentalism is the role of macroeconomic policy; in particular, how it is coordinated to maintain fiscal sustainability, low inflation and, in particular, competitive real exchange rate.

Keywords: new developmentalism, old developmentalism, development economics, macroeconomic policy, policy coordination, competitive exchange rate

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Mario Damill, Martín Rapetti, and Guillermo Rozenwurcel

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New Developmentalism as a Weberian Ideal Type

New Developmentalism as a Weberian Ideal Type

Luiz Carlos Bresser-Pereira