New Developmentalism: beyond competitive exchange rate
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Revista de Economia Política |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200238 |
Resumo: | ABSTRACT The aim of this article is to show that the achievement of a competitive level for real exchange rate is a necessary, although not sufficient condition for the catching-up of middle-income countries to developed countries. It is also required a change in the long-term expectations of real exchange rate by entrepreneurs which requires the elimination of the underlying causes of the tendency of overvaluation of real exchange rate, that encompass the Dutch Disease and capital account liberalization. Due to the existence of technological gap, industrial equilibrium exchange rate in middle-income countries may be higher enough to compensate domestic firms for their technological backwardness relative to firms of developed countries. This means that there is a space for Industrial and Science and Technology Policies in the New-Developmentalist theoretical framework. |
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New Developmentalism: beyond competitive exchange rateNew Developmentalismindustrial equilibriumDutch Diseasecapital flowsABSTRACT The aim of this article is to show that the achievement of a competitive level for real exchange rate is a necessary, although not sufficient condition for the catching-up of middle-income countries to developed countries. It is also required a change in the long-term expectations of real exchange rate by entrepreneurs which requires the elimination of the underlying causes of the tendency of overvaluation of real exchange rate, that encompass the Dutch Disease and capital account liberalization. Due to the existence of technological gap, industrial equilibrium exchange rate in middle-income countries may be higher enough to compensate domestic firms for their technological backwardness relative to firms of developed countries. This means that there is a space for Industrial and Science and Technology Policies in the New-Developmentalist theoretical framework.Centro de Economia Política2020-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200238Brazilian Journal of Political Economy v.40 n.2 2020reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/0101-31572020-3138info:eu-repo/semantics/openAccessOREIRO,JOSÉ LUISeng2020-04-13T00:00:00Zoai:scielo:S0101-31572020000200238Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2020-04-13T00:00Revista de Economia Política - EDITORA 34false |
dc.title.none.fl_str_mv |
New Developmentalism: beyond competitive exchange rate |
title |
New Developmentalism: beyond competitive exchange rate |
spellingShingle |
New Developmentalism: beyond competitive exchange rate OREIRO,JOSÉ LUIS New Developmentalism industrial equilibrium Dutch Disease capital flows |
title_short |
New Developmentalism: beyond competitive exchange rate |
title_full |
New Developmentalism: beyond competitive exchange rate |
title_fullStr |
New Developmentalism: beyond competitive exchange rate |
title_full_unstemmed |
New Developmentalism: beyond competitive exchange rate |
title_sort |
New Developmentalism: beyond competitive exchange rate |
author |
OREIRO,JOSÉ LUIS |
author_facet |
OREIRO,JOSÉ LUIS |
author_role |
author |
dc.contributor.author.fl_str_mv |
OREIRO,JOSÉ LUIS |
dc.subject.por.fl_str_mv |
New Developmentalism industrial equilibrium Dutch Disease capital flows |
topic |
New Developmentalism industrial equilibrium Dutch Disease capital flows |
description |
ABSTRACT The aim of this article is to show that the achievement of a competitive level for real exchange rate is a necessary, although not sufficient condition for the catching-up of middle-income countries to developed countries. It is also required a change in the long-term expectations of real exchange rate by entrepreneurs which requires the elimination of the underlying causes of the tendency of overvaluation of real exchange rate, that encompass the Dutch Disease and capital account liberalization. Due to the existence of technological gap, industrial equilibrium exchange rate in middle-income countries may be higher enough to compensate domestic firms for their technological backwardness relative to firms of developed countries. This means that there is a space for Industrial and Science and Technology Policies in the New-Developmentalist theoretical framework. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200238 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572020000200238 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/0101-31572020-3138 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Centro de Economia Política |
publisher.none.fl_str_mv |
Centro de Economia Política |
dc.source.none.fl_str_mv |
Brazilian Journal of Political Economy v.40 n.2 2020 reponame:Revista de Economia Política instname:EDITORA 34 instacron:EDITORA_34 |
instname_str |
EDITORA 34 |
instacron_str |
EDITORA_34 |
institution |
EDITORA_34 |
reponame_str |
Revista de Economia Política |
collection |
Revista de Economia Política |
repository.name.fl_str_mv |
Revista de Economia Política - EDITORA 34 |
repository.mail.fl_str_mv |
||cecilia.heise@bjpe.org.br |
_version_ |
1754122482479005696 |