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Novo desenvolvimentismo é resposta para a crise

2017. A short (4.000 words) summary of new developmentalism – a new theoretical framework to allow middle-income countries to grow again. Ilustríssima, Folha) (Available in English)

Macroeconomia Desenvolvimentista

2016. With José Luis Oreiro e Nelson Marconi. Our more complete analysis of Developmental Macroeconomics – the central economic theory within New Developmentalism. (book)

Desenvolvimento, progresso e crescimento econômico

2014. Progress and human development are defined as the advance towards the five political objectives that modern societies defined for themselves (security, individual liberty, economic wellbeing, social justice and protection of the environment); and growth a an instrument to such objectives. (Essay: Lua Nova)

The access to demand

2014. In developing countries it is not enough to secure demand for entrepreneurs to invest; additionally, is required access to it, which only a competitive exchange rate can assure. (Paper Keynesian Brazilian Review)

The value of the exchange rate and the Dutch disease

2013. A revised version of my 2008 paper on the Dutch disease in which I distinguish the value from the market price of the exchange rate. (Paper: Brazilian Journal of Political Economy)

The exchange rate at the center of development economics

2012. In so far as structuralist development macroeconomics assumes that developing countries face a tendency to the cyclical overvaluation of the eschange rate, it makes the exchange rate chronically overvalued. Thus, it ceases to be just a short term macroeconomic problem, to be part of the corre of development economics. (Paper: Estudos Avançados) Portuguese version

E-Mails to Friends

E-mails that I send twice a year to my friends, since December 1999, reporting my academic and public activities. (Last e-mail, December 2003).

Structuralist macroeconomics and the new developmentalism

2012. A sum up of a structuralist development macroeconomics and of the ensuing national development strategy: new developmentalism. A theoretical step ahead in relation to Globalization and Competition. (Paper: Brazilian Journal of Political Economy)

From old to new developmentalism in Latin America

2011. My more complete paper on new developmentalism. In José Antonio Ocampo and Jaime Ros, eds. Handbook of Latin America Economics, Oxford: Oxford University Press. (Paper). Portuguese version available.

Globalización y Competencia

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Siglo XXI).

Keynesianismo vulgar e o Novo-desenvolvimentismo (Valor, 5.2.10)

2010. With José Luís Oreiro. Populist Keynesians are for chronic public deficits. Keynes only supported budget deficits in recession moments, and to finance investment, not current expenditures. (Article: Valor).

Keynesianismo vulgar y el neo-desarrollismo (La Onda, 02.10)

2010. With José Luís Oreiro. Populist Keynesians are for chronic public deficits. Keynes only supported budget deficits in recession moments, and to finance investment, not current expenditures. (Article: La Onda digital).

Doença holandesa e sua neutralização: uma abordagem ricardiana

2008. A country suffering from the Dutch disease has two “equilibrium” exchange rates: the “current equilibrium” that is inconsistent with economic growth, and the”industrial equilibrium” that will be achieved if the country is able to neutralize the disease. (Paper in edited book) English version published in Brazilian Journal of Political Economy)

The Dutch disease and its neutralization: a Ricardian approach

2008. A country suffering from the Dutch disease has two “equilibrium” exchange rates: the “current equilibrium” that is inconsistent with economic growth, and the”industrial equilibrium” that will be achieved if the country is able to neutralize the disease. (Paper: Brazilian Journal of Political Economy)

La enfermedad holandesa y su neutralización

2008. The Dutch disease or natural resources curse is a major market failure to the extent that appreciates the exchange rate and makes not profitable industries using technology in the state of the art. English version available.