STOCK-FLOW CONSISTENT (SFC) AS A SUITABLE APPROACH TO MODELING THE NEW DEVELOPMENTALIST FRAMEWORK
DOI:
https://doi.org/10.5902/2526629269880Palavras-chave:
Economic Development, Macrodynamic Models, Structural Change, Stock-Flow ConsistentResumo
This paper explores the theoretical bases of New Developmentalism, highlighting its core propositions. Evaluates the first effort of mathematical proposition of a New Developmentalist prototype model. It explores how the integration of the current model with a version using the Stock-Flow Consistent approach would look like and how this methodology could help to solve some gaps left behind. Finally, a projection for a new research agenda using sectoral and microeconomic details is pointed out as a possible work front.
Downloads
Referências
BLECKER, R. A.; SETTERFIELD, M. (2019). Heterodox Macroeconomics. Models of Demand, Distribution and Growth. Edward Elgar: USA.
BRESSER-PEREIRA, L. C. (2006). O Novo Desenvolvimentismo e a Ortodoxia Convencional. São Paulo em Perspectiva, 20(3), pp. 5-24.
BRESSER-PEREIRA, L. C. (2016). Reflecting on new developmentalism and classical developmentalism. Review of Keynesian Economics, 4(3), pp. 331-352.
BRESSER-PEREIRA, L. C. (2018). Neutralizing the Dutch disease [Working Paper 476]. FGV São Paulo of Economics, Brazil.
BRESSER-PEREIRA, L. C. (2020a). New Developmentalism: Development macroeconomics for middle-income countries. Cambridge Journal of Economics, 44(3), pp. 629-646.
BRESSER-PEREIRA, L.C. (2020b). New and classical developmentalism: A response to Medeiros. Review of Keynesian Economics, 8(2), pp. 168-177.
BRESSER-PEREIRA, L. C; OREIRO, J. L; MARCONI, N. (2014). “A theoretical framework for new developmentalism” In: Bresser-Pereira, L.C; Kregel, J; Burlamaqui, L (orgs). Financial Stability and Growth: perspectives on financial regulation and new developmentalism. London: Routledge.
BRESSER-PEREIRA, L. C; OREIRO, J. L; MARCONI, N. (2015). Developmental Macroeconomics: New Developmentalism as a Growth Strategy. London: Routledge.
CRIPPS, F; GODLEY, W (1976). A formal analysis of the Cambridge economic policy group model. Economica, 43(172), pp. 335–348.
DAVIDSON, P. (1982). International Money and the Real World. London: Macmillan.
DAVIDSON, P. (1986). Finance, Funding, Saving, and Investment. Journal of Post Keynesian Economics, 9(1), pp. 101-110.
DEJUÁN, O., (2013). Normal paths of growth shaped by the supermultiplier. In: Lev- rero, E., Palumbo, A., Stirati, A. (Eds.), Sraffa and the Reconstruction of Economic Theory 2. Palgrave Macmillan, London.
FREITAS, F.; SERRANO, F. (2015). Growth rate and level effects, the stability of the adjustment of capacity to demand and the Sraffian supermultiplier. Rev. Polit. Econ. 27 (3), 58–281.
MEDEIROS, C. A. (2020). A Structuralist and Institutionalist Developmental Assement of and reaction to New Developmentalism. Review of Keynesian Economics, 8(2), pp. 147-167.
NIKIFOROS, M. (2013). “The (normal) rate of capacity utilization at the firm level.” Metroeconomica 64 (3): 513–38.
NIKIFOROS, M. (2018). “Some comments on the Sraffian supermultiplier approach to growth and distribution”. Levy Institute of Economics, Working paper n. 907.
GODLEY, W.; CRIPPS, F. Macroeconomics. Oxford University Press, 1983.
GODLEY, W.; LAVOIE, M. (2007). Monetary economics: an integrated approach to credit, money, income, production and wealth. 1a ed. Nova York: Palgrave Macmillan.
SKOTT, P.; SANTOS, J. F. C.; OREIRO, J. L. C. (2022). Supermultipliers, ‘endogenous autonomous demand’ and functional finance. 73(1), pp. 220-244.
OREIRO, J. L. (2020). New Developmentalism: beyond competitive exchange rate. Brazilian Journal of Political Economy, vol. 40, nº 2, pp. 238-242.
OREIRO, J. L.; FEIJÓ, C. A. (2010). Desindustrialização: conceituação, causas, efeitos e o caso brasileiro. Revista de Economia Política, v. 30, n. 2, pp. 219-232.
OREIRO, J. L. C.; SANTOS, J. F. C. (2019). The impossible quartet in a Demand Led Growth-Supermultiplier Model for a Small Open Economy. Working Paper. IV Workshop on New Developmentalism, São Paulo, Brazil.
OREIRO, J. L.; DA SILVA, K. M.; DÁVILA-FERNÁNDEZ, M. J. (2020). A New Developmentalist model of structural change, economic growth and middle-income traps. Structural Change and Economic Dynamics, n. 55, pp. 26-38.
PALLEY, T. (2021). The Economics of New Developmentalism: A Critical Assessment. Investigación Económica, v. 80, n.317, pp. 1-31.
RIBEIRO, R. S. M.; MCCOMBIE, J. S. L.; LIMA, G. T. (2020). Does real Exchange rate undervaluation really promote economic growth? Structural Change and Economic Dynamics. v. 52, pp. 408-417.
SOUZA, R. DA S.; MATTOS, L. B.; LIMA, J. E. (2020). Commodity prices and the Brazilian real exchange rate. International Journal of Finance & Economics, 26(2), 3152–3172. doi:10.1002/ijfe.1955.
THIRLWALL, A. (2002). The Nature of Economic Growth. Edward Elgar: Aldershot.
TOBIN, J. (1980) Asset accumulation and economic activity. Chicago: University of Chicago Press, 1980.
TOBIN, J. (1982) Money and finance in macroeconomic process. Journal of Money, Credit and Banking, v. 14, n. 2, p. 171-204.
TREGENNA, F. (2009). “Characterizing deindustrialization: an analysis of changes in manufacturing employment and output internationally”. Cambridge Journal of Economics, Vol. 33.
VERÍSSIMO, M. P.; XAVIER, C. L. (2013). Taxa de câmbio, exportações e crescimento: uma investigação sobre a hipótese de doença holandesa no Brasil. REVISTA DE ECONOMIA POLÍTICA (IMPRESSO), v. 33, p. 82-101.
Downloads
Publicado
Como Citar
Edição
Seção
Licença
Este trabalho está licenciado sob uma licença Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Será exigida de todos os autores de artigos aceitos para publicação na PAP - Práticas de Administração Pública a Declaração de Direitos Autorais, na qual, os autores concedem à revista o direito de primeira publicação, com o trabalho simultaneamente licenciado sob a Creative Commons Atribuição-NãoComercial-CompartilhaIgual 4.0 Internacional.
