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Christopher M Dent - One of the best experts on this subject based on the ideXlab platform.
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east asia s new Developmentalism state capacity climate change and low carbon development
Third World Quarterly, 2018Co-Authors: Christopher M DentAbstract:This paper argues that to understand the relevance of developmental states in East Asia and elsewhere, we need to focus on the changing development agenda in the early twenty-first century, especially how this connects with the global challenge of climate change and thereby sustainable, low-carbon development. It combines theories on state capacity and ecological modernisation to form the ‘new Developmentalism’ concept. This is applied to study revitalised and refocused forms of state capacity aimed at realising the transformative economic objectives associated with sustainable development. New Developmentalism helps us understand not only current state capacity practice in a climate challenged world but also how we have moved beyond original conceptions of developmental statism. It may be understood in the wider context of the sustainable development agenda and climate interventionism. As is argued, new Developmentalism is most clearly evident in East Asia but can be applied in a wider geographic sense where strong forms of developmental state capacity are exercised towards meeting transformative sustainable development goals.
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renewable energy in east asia towards a new Developmentalism
2014Co-Authors: Christopher M DentAbstract:1. Renewable Energy: An Introduction 2. Renewable Energy and East Asia's New Developmentalism 3. Renewable Energy Policy in East Asia 4. Wind Energy 5. Solar Energy 6. Hydropower 7. Geothermal Energy 8. Ocean Energy 9. Bioenergy 10. Conclusion
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renewable energy and east asia s new Developmentalism towards a low carbon future
Pacific Review, 2012Co-Authors: Christopher M DentAbstract:Abstract East Asia's renewable energy (RE) sector has grown faster than any other region's since the mid-2000s. It is argued that renewables formed an integral part of the region's new industrial policies and new Developmentalism, which are founded on new configured forms of state capacity shaped in response to various challenges, primarily climate change, energy security, globalisation and global neo-liberalism. By studying the recent progress of East Asia's RE sector, we gain useful insights into these key developments in East Asia's political economy and the region's prospects for transition towards low carbon development. This analysis considers how and why different approaches to RE policy emerged in East Asia, to what extent the promotion and expansion of East Asia's RE sector is part of a new industrial policy paradigm and new Developmentalism, and what the study of East Asian policies on promoting renewable energy can tell us about the region's broader approach to low carbon development. Although ...
Luiz Carlos Bresserpereira - One of the best experts on this subject based on the ideXlab platform.
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multilateral development banks new Developmentalism and local currency financing
Brazilian Journal of Political Economy, 2019Co-Authors: Luiz Carlos Bresserpereira, Cinthia BechelaineAbstract:Multilateral Development Banks (MDBs) are designed to finance investments that promote global economic and social development. The objective of this paper is to discuss a key component in meeting the demand for investment in developing countries, namely the ability of MDBs to provide loans in local rather than foreign currency. To explain how these institutions fulfill this purpose, we distinguish "traditional" from "new" MDBs, discuss the problems generated from foreign currency indebtedness, and explore a way out, or an alternative explanation, based on New Developmentalism theory and the challenge of local currency financing. JEL Classification: F3; F4; G2; O2.
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from classical Developmentalism and post keynesian macroeconomics to new Developmentalism
Brazilian Journal of Political Economy, 2019Co-Authors: Luiz Carlos BresserpereiraAbstract:New Developmentalism was a response to the inability of classical Developmentalism and post-Keynesian macroeconomics in leading middle-income countries to resume growth. New Developmentalism was born in the 2000s to explain why Latin American countries stopped growing in the 1980s, while East Asian countries continued to catch up. This paper compares new Developmentalism with classical Developmentalism, which didn’t have a macroeconomics, and with post-Keynesian economics, whose macroeconomics is not devoted to developing countries. And shows that to follow the East Asian example is not enough industrial policy, it is also necessary a macroeconomic policy that sets the five macroeconomic prices right, rejects the growth with foreign savings policy, and keeps the macroeconomic accounts balanced. JEL Classification: O10; O11; B29.
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after the demise of neoliberalism but not of conservatism a third Developmentalism
Textos para discussão, 2015Co-Authors: Luiz Carlos BresserpereiraAbstract:Neoliberalism and Developmentalism are the two alternative forms of economic and political organization of capitalism. Since the 2008 global financial crisis we see the demise of neoliberalism in rich countries, as state intervention and regulation increased, opening room for a third historical Developmentalism (the first was mercantilism, the second, Fordism). Not only because of major market failures, not only because the market is definitely unable to assure financial stability and full employment, an active macroeconomic policy is being required. Modern economies are divided into a competitive and a non-competitive sector; for the coordination of the competitive sector the market is irreplaceable and regulation as well as strategic industrial policy will be pragmatically adopted following the subsidiarity principle, whereas for the non-competitive sector, state coordination and some state ownership are usually more efficient. Besides, the fact that capitalist economies are increasingly diversified and complex is an argument against the two extremes – against statism as well as neoliberalism – in so far that they require market coordination combined with increased regulation. But the third Developmentalism probably will not be progressive as was the second, because the social-democratic political parties are disoriented. They won the battle for the welfare state, which neoliberalism was unable to dismantle, but the competition of low wage developing countries and immigration continue to offer arguments to conservative political parties that defend the reduction of the cost of labor contracts or the or precarization of labor.
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developmental macroeconomics new Developmentalism as a growth strategy
2014Co-Authors: Luiz Carlos Bresserpereira, Jose Luis Oreiro, Nelson MarconiAbstract:Developmental Macroeconomics: Access to Demand, the Exchange Rate and Growth offers a new approach to development economics and macroeconomics. It is a Keynesian-structuralist approach to economics applied to middle income countries that emphasizes the strategic role of demand in creating investment opportunities that are essential to economic development. It also explores crucial links between short-term full employment and financial stability with medium term growth. While this book emphasizes the central role played by the exchange rate it does not ignore other macroeconomic prices (the interest rate, the inflation rate and the profit rate). It develops a group of concepts and models and blends them together in the model of the tendency to the cyclical overvaluation of the exchange rate in developing countries. According to this model, the exchange rate tends to be chronically overvalued. In so far that this is true the exchange rate ceases to be just a short-term problem to be treated by macroeconomics and becomes central to development economics and should be crucially oriented to manage the exchange rate and keep it competitive at the industrial equilibrium level. The book closes with the presentation of new Developmentalism – a national development strategy based on the system of models previously discussed that is both an alternative to old national-Developmentalism and to liberal orthodoxy or the Washington consensus.
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structuralist macroeconomics and the new Developmentalism
Revista de Economia Política, 2012Co-Authors: Luiz Carlos BresserpereiraAbstract:This paper first presents some basic ideas and models of a structuralist development macroeconomics that complements and actualizes the ideas of the structuralist development economics that was dominant between the 1940s and the 1960s. A system of three models focusing on the exchange rate (the tendency to the cyclical overvaluation of the exchange rate, a critique of growth with foreign savings, and new a model of the Dutch disease) shows that it is not just volatile but chronically overvalued, and for that reason it is not just a macroeconomic problem; as a long term disequilibrium, it is in the core of development economics. Second, it summarizes “new Developmentalism” – a sum of growth policies based on these models
Susanne Wengle - One of the best experts on this subject based on the ideXlab platform.
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post soviet Developmentalism and the political economy of russia s electricity sector liberalization
Studies in Comparative International Development, 2012Co-Authors: Susanne WengleAbstract:Observers of Russian state market relations typically consider the state as an entity engaged in creating rent-seeking opportunities for bureaucrats or powerful economic interests. The trajectory and outcomes of electricity sector reforms demonstrate the limits of this perspective and serve to highlight a developmental strand in Russian economic policy, which I call post-Soviet Developmentalism. I found that post-Soviet Developmentalism is key to understanding the patterns of market institutions that have emerged in the newly liberalized electricity sector and that they cannot be adequately explained if the state is largely seen as a predator or as captured by oligarchic interests. A close analysis of the institutional underpinnings of new electricity markets suggests that they were shaped in political bargains, in which the government sought to enlist Russia’s oligarchic conglomerates for its modernization agenda and developmental priorities. The paper links this discussion to three sets of theoretical literatures: It speaks to the debates on the post-Soviet transition, more broadly to the political economy of market reform, and finally, it addresses the developmental state literature.
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post soviet Developmentalism and the political economy of russia s electricity sector liberalization
Social Science Research Network, 2010Co-Authors: Susanne WengleAbstract:Observers of Russian state market relations typically consider the state as an entity engaged in creating rent-seeking opportunities for bureaucrats, or for the most powerful economic interests. The trajectory and outcomes of electricity sector reforms demonstrate the limits of this perspective and serve to highlight a developmental strand in Russian economic policy, which I call post-Soviet Developmentalism. I found that post-Soviet Developmentalism is key to understanding the patterns of market institutions that have emerged in the newly liberalized electricity sector. A close analysis of the institutional underpinnings of new electricity markets suggest that they were shaped in political bargains, in which the government sought to enlist Russia’s oligarchic conglomerates for its developmental agenda. Institutional patterns cannot be adequately explained if the state is largely seen as a predator or as captured by oligarchic interests. Finally, the paper suggests an analytical lens to understand the role of industrial geography in the creation of market institutions.
Alfred P Montero - One of the best experts on this subject based on the ideXlab platform.
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the renewed developmental state the national development bank and the brazil model
Journal of Development Studies, 2013Co-Authors: Kathryn Hochstetler, Alfred P MonteroAbstract:This study examines how Brazil operationalised a renewed developmentalist project during the democratic period, and especially during the presidency of Lula da Silva. We use an original data set of 2,115 loans made by the Brazilian National Development Bank (BNDES) between 2002 and 2011 to show elements of both change and continuity with Brazil's developmentalist past. Large loans continued to flow to many of Brazil's historic large firms and industrial sectors - as reported widely - but the data also show significant numbers of smaller loans to firms in all sectors, as well as renewed support for internationalisation and innovation. We conclude that BNDES's lending reflects less a wholly new model of Developmentalism than it does a developmentalist strategy that has been renewed and updated for the challenges and opportunities of a more market-oriented economy.
Kathryn Hochstetler - One of the best experts on this subject based on the ideXlab platform.
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the renewed developmental state the national development bank and the brazil model
Journal of Development Studies, 2013Co-Authors: Kathryn Hochstetler, Alfred P MonteroAbstract:This study examines how Brazil operationalised a renewed developmentalist project during the democratic period, and especially during the presidency of Lula da Silva. We use an original data set of 2,115 loans made by the Brazilian National Development Bank (BNDES) between 2002 and 2011 to show elements of both change and continuity with Brazil's developmentalist past. Large loans continued to flow to many of Brazil's historic large firms and industrial sectors - as reported widely - but the data also show significant numbers of smaller loans to firms in all sectors, as well as renewed support for internationalisation and innovation. We conclude that BNDES's lending reflects less a wholly new model of Developmentalism than it does a developmentalist strategy that has been renewed and updated for the challenges and opportunities of a more market-oriented economy.