Pub Date : 2021-06-30DOI: 10.22201/fe.01851667p.2021.317.79804
T. Palley
This paper critically assesses the economics of New Developmentalism (ND). It begins by identifying and formalizing the principal components of ND which are identified as neutralizing Dutch disease, ending growth with foreign saving, development driven by a technologically advanced and internationally competitive manufacturing private sector, and getting macroeconomic prices right. It then examines four strands of critique consisting of internal economic logic critiques, Classical Developmentalism (CD) critiques, Keynesian and Neo-Kaleckian critiques, and the fighting the last war critique. To this author, ND is best understood as a Third Way styled analysis that blends CD heterodoxy and Neoliberalism. However, ND’s substantive policy recommendations lean in the Neoliberal direction, particularly as regards budget deficits and state intervention in the development process. From a Classical Development perspective, the problematic of development cannot be solved as easily as suggested by ND. LA ECONOMIA DEL NUEVO DESARROLLISMO: UNA EVALUACION CRITICA RESUMEN En este articulo evaluo de forma critica la economia del nuevo desarrollismo (ND). Comienza por identificar y formalizar los principales componentes del ND descritos por la neutralizacion de la enfermedad holandesa, la eliminacion del crecimiento con ahorro externo, el desarrollo motivado por un sector manufacturero privado tecnologicamente avanzado y competitivo a nivel internacional y el establecimiento de precios macroeconomicos correctos. Posteriormente examino cuatro aspectos consistentes en la critica de la logica economica interna, la critica del desarrollismo clasico (DC), las criticas keynesiana y neokaleckiana y la lucha de la critica de la ultima guerra. El ND se entiende mejor como un analisis estilizado de tercera via que combina heterodoxia y neoliberalismo. Sin embargo, sus recomendaciones de politica sustantivas se inclinan en direccion neoliberal, en particular en lo que se refiere a los deficit fiscales y a la intervencion del Estado en el proceso de desarrollo. Desde la perspectiva del desarrollo clasico, la problematica del desarrollo no puede resolverse de forma tan facil como sugiere el ND.
本文批判性地评价了新发展主义经济学。首先，确定并正式确定新发展战略的主要组成部分，即消除荷兰病，以外国储蓄结束增长，由技术先进和具有国际竞争力的制造业私营部门推动发展，以及使宏观经济价格合理。然后，它考察了四股批评，包括内部经济逻辑的批评，古典发展主义(CD)的批评，凯恩斯主义和新卡列克的批评，以及最后一场战争的批评。对这位作者来说，ND最好被理解为第三条道路风格的分析，混合了CD异端和新自由主义。然而，民主党的实质性政策建议倾向于新自由主义方向，特别是在预算赤字和国家对发展过程的干预方面。从古典发展的角度来看，发展问题并不像ND所建议的那样容易解决。LA ECONOMIA DEL NUEVO DESARROLLISMO: unityevaluationcritical resume(新DESARROLLISMO:新DESARROLLISMO)。经济发展的基本要素是经济发展的基本要素，经济发展的基本要素是经济发展的基本要素，经济发展的基本要素是经济发展的基本要素，经济发展的基本要素是经济发展的基本要素，经济发展的基本要素是经济发展的基本要素，经济发展的基本要素是经济发展的基本要素，经济发展的基本要素是经济发展的基本要素，经济发展的基本要素是经济发展的基本要素。后世对微观方面的考察与国际逻辑经济学的批判、古典经济学的批判、凯恩斯主义的批判与新经济学的批判、终极经济学的批判是一致的。新自由主义与异质主义的结合，为新自由主义的发展提供了一种新的视角。因此，我们的建议似乎倾向于新自由主义的方向，特别是在通过对国家和经济发展进程的干预来弥补财政赤字的问题上。Desde la perspectiva del举行desarrollo la problematica del desarrollo没有测试resolverse形式tan facil科莫sugiere el ND。
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Pub Date : 2021-04-02DOI: 10.20430/ETE.V88I350.1263
P. Paz
En este ensayo de homenaje al distinguido economista mexicano Juan Noyola Vazquez, se presentara una breve resena de su biografia y se intentara rescatar su valiosa contribucion al desarrollo del pensamiento critico latinoamericano. El enfasis se colocara en sus aportaciones teoricas, lo cual no significa desmerecer su fertil y comprometida accion como funcionario de los gobiernos de Mexico y Cuba. Esta reflexion, a casi veinte anos de su fallecimiento, permite apreciar lo relevante de las aportaciones de Noyola en aspectos que fueron sustantivos para el avance de un pensamiento propio en America Latima. Con esta perspectiva se puede sostener que las principales contribuciones teoricas de Noyola son la participacion en el conformar ý consolidar la concepcion centro-periferia para interpretar los problemas del subdesarrollo, el caracter previsor de su analisis de la inflacion desde el enfoque estructuralista, y sus esfuerzos para adaptar la planificacion desarrollada en America Latina a las particulares condiciones de Cuba y su revolucion. Cualquiera de estas tres contribuciones hubiera bastado para colocar a Noyola en un lugar destacado en el desarrollo del pensamiento economico latinoamericano.
{"title":"Juan Noyola Vázquez: precursor de la vertiente progresista del pensamiento estructuralista latinoamericano","authors":"P. Paz","doi":"10.20430/ETE.V88I350.1263","DOIUrl":"https://doi.org/10.20430/ETE.V88I350.1263","url":null,"abstract":"En este ensayo de homenaje al distinguido economista mexicano Juan Noyola Vazquez, se presentara una breve resena de su biografia y se intentara rescatar su valiosa contribucion al desarrollo del pensamiento critico latinoamericano. El enfasis se colocara en sus aportaciones teoricas, lo cual no significa desmerecer su fertil y comprometida accion como funcionario de los gobiernos de Mexico y Cuba. Esta reflexion, a casi veinte anos de su fallecimiento, permite apreciar lo relevante de las aportaciones de Noyola en aspectos que fueron sustantivos para el avance de un pensamiento propio en America Latima. Con esta perspectiva se puede sostener que las principales contribuciones teoricas de Noyola son la participacion en el conformar ý consolidar la concepcion centro-periferia para interpretar los problemas del subdesarrollo, el caracter previsor de su analisis de la inflacion desde el enfoque estructuralista, y sus esfuerzos para adaptar la planificacion desarrollada en America Latina a las particulares condiciones de Cuba y su revolucion. Cualquiera de estas tres contribuciones hubiera bastado para colocar a Noyola en un lugar destacado en el desarrollo del pensamiento economico latinoamericano.","PeriodicalId":44170,"journal":{"name":"Investigacion Economica","volume":"43 1","pages":"313-330"},"PeriodicalIF":0.6,"publicationDate":"2021-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45550390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-03-26DOI: 10.22201/FE.01851667P.2021.316.78667
Kuo Huang
Countries around the world find themselves trapped in a social dilemma amid the COVID-19 pandemic when most mitigation policies require sacrificing individuals’ interests for collective wellbeing. By examining Taiwan’s policy responses, this paper finds that while the cooperation for collective action does play a role, the main ingredient for its unexpected success is minimizing the grand-scale social dilemma, rather than fighting it head-to-head, through a set of carefully-designed measures. This paper further argues that Taiwan’s strategies are made possible by three underlying conditions that help to solve a series of collective action problems: The institutionalization and capacity building before the pandemic, the social coordination since the outbreak, and the political pressure from China. MINIMIZANDO EL DILEMA SOCIAL: EL INESPERADO EXITO DE TAIWAN EN LA LUCHA CONTRA LA PANDEMIA COVID-19 RESUMEN El mundo se encuentra atrapado en un dilema social dentro de la pandemia COVID-19 cuando la mayoria de las politicas de migracion requieren el sacrificio de los intereses individuales para el bienestar colectivo. Mediante el examen de las respuestas de politica de Taiwan, en este articulo argumentamos que mientras la cooperacion para la accion colectiva desempena un papel, el principal ingrediente del exito inesperado de este pais es la minimizacion del dilema social de gran escala, mas que la lucha directa contra la pandemia, a traves de un conjunto de medidas disenadas de forma cuidadosa. Argumentamos, ademas, que las estrategias de Taiwan son posibles debido a tres condiciones subyacentes que contribuyen a resolver una serie de problemas de accion colectiva: la institucionalizacion y la construccion de capacidades ante la pandemia, la coordinacion social desde la irrupcion de esta y la presion politica de China.
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Pub Date : 2021-03-26DOI: 10.22201/FE.01851667P.2021.316.79024
A. Thirlwall
Este articulo ofrece una revision critica exhaustiva del mas reciente libro de Alessandro Roncaglia, The Age of Fragmentation: A History of Contemporary Economic Thought . El volumen abarca los antecedentes de la economia moderna —en particular, las ideas de Wicksell, Keynes y Schumpeter—, las “revoluciones” de la segunda posguerra en microeconomia, macroeconomia y economia aplicada, incluida la econometria. Puntos de vista heterodoxos de la economia poskeynesiana, el marxismo, la economia institucional y evolucionista, los teoricos posutilitarios y tambien se consideran la etica y el bienestar. THE AGE OF FRAGMENTATION BY ALESSANDRO RONCAGLIA: A REVIEW ARTICLE ABSTRACT This article gives a thorough critical review of Alessandro Roncaglia’s latest book The Age of Fragmentation: A History of Contemporary Economic Thought . The volume covers the antecedents of modern economics —the ideas of Wicksell, Keynes and Schumpeter in particular— followed by the post-war 2 ‘revolutions’ in microeconomics, macroeconomics and applied economics, including econometrics. Heterodox views of post-Keynesian economics; Marxism; institutional and evolutionary economics; post-utilitarian theorists; ethics, and welfare are also considered
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Pub Date : 2020-12-29DOI: 10.22201/fe.01851667p.2021.315.76845
R. Ramakumar, T. Kanitkar
ABSTRACT This paper is an analysis of the economic impact of the Covid-19 pandemic in India. Even prior to the pandemic, the Indian economy was marked by a slowdown of economic growth and record increases in unemployment and poverty. Thus, India’s capacity to deal with a new crisis was weak when the pandemic hit in March 2020. The economic crisis after March 2020 affected all the sectors of the Indian economy. In agriculture, farmers were faced with broken supply chains, lack of market outlets, poor demand and falling output prices. In industry, micro and small enterprises were the most acutely affected. The crisis led to a loss of employment to the tune of at least 15 million. Using an Input-Output (I-O) framework, we create four scenarios of losses to the Indian economy. We estimate that India’s GDP growth rate in 2020-2021 may range from –4.3% to –15%. The government’s economic response till October 2020 was seriously deficient on demand side interventions. The government was hesitant to expand budgetary spending because it feared a rise in fiscal deficit. Given this fiscal stance of policy, the chances of an early revival in the Indian economy appear dismal. IMPACTO DE LA PANDEMIA COVID-19 EN LA ECONOMIA INDIA: UN ANALISIS CRITICO RESUMEN Analizamos el impacto economico de la pandemia Covid-19 en la India. Antes de la pandemia, hubo una desaceleracion del crecimiento economico y un aumento record del desempleo y la pobreza. Por lo tanto, la capacidad para hacer frente a una nueva crisis era debil cuando la pandemia golpeo en marzo de 2020. La crisis economica posterior afecto a todos los sectores economicos. Los agricultores se enfrentaron a cadenas de suministro rotas, falta de mercados, escasa demanda y caida de los precios de produccion. En la industria, las microempresas y las pequenas empresas fueron las mas afectadas. La crisis provoco una perdida de empleo de al menos 15 millones. Usando una matriz de insumo-producto (I-O), creamos cuatro escenarios de perdidas. Estimamos que la tasa de crecimiento del producto interno bruto (PIB) de la India en 2020-2021 puede oscilar entre el –4.3% y el –15%. La respuesta del gobierno hasta octubre de 2020 fue muy deficiente en las intervenciones del lado de la demanda. Dudaba en expandir el gasto presupuestario porque temia un aumento del deficit fiscal. Dada esta orientacion fiscal, las posibilidades de una pronta reactivacion economica parecen desalentadoras.
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ABSTRACT This paper argues that the Chilean economic model is characterized by three stylized facts that undermine its view as a free market/neo-liberal success: A lower trend in the rate of growth of GDP, increased inequality, and rising indebtedness. Since the mid-1990s GDP growth has trended downwards. This has been accompanied by an increase in the profit relative to the wage share. Chile has also one of the highest levels of personal income inequality across the OECD countries. The combined effects of the decline in trend growth and high levels of inequality have given rise to increased indebtedness of the household sector, especially of lower income households, and the corporate sector. Lower trend growth, high inequality and increasing debt are the perfect mix that can lead to a context of financial fragility, which puts in doubt the sustainability of the Chilean economic model. EL IMPULSO DE CHILE HACIA LA FRAGILIDAD FINANCIERA RESUMEN Este trabajo argumenta que el modelo economico chileno se caracteriza por tres hechos estilizados que cuestionan el exito atribuido al libre mercado y al neoliberalismo: una baja tendencial en la tasa de crecimiento del producto interno bruto (PIB), acompanado de un aumento de la desigualdad y del endeudamiento. Desde mediados de la decada de 1990, el crecimiento del PIB ha mostrado una tendencia a la baja. Esto ha ido acompanado de un aumento de la participacion del beneficio en el PIB. Este contexto ha dado lugar a un incremento del endeudamiento del sector de los hogares y del sector corporativo. La disminucion del crecimiento tendencial, la alta desigualdad y el aumento de la deuda pueden conducir a un contexto de fragilidad financiera, lo que pone en duda la sostenibilidad del modelo economico chileno.
{"title":"CHILE’S THRUST TOWARDS FINANCIAL FRAGILITY","authors":"Cristóbal Budnevich Portales, Nicole Favreau Negront, Esteban Pérez Caldentey","doi":"10.22201/fe.01851667p.2021.315.77041","DOIUrl":"https://doi.org/10.22201/fe.01851667p.2021.315.77041","url":null,"abstract":"ABSTRACT This paper argues that the Chilean economic model is characterized by three stylized facts that undermine its view as a free market/neo-liberal success: A lower trend in the rate of growth of GDP, increased inequality, and rising indebtedness. Since the mid-1990s GDP growth has trended downwards. This has been accompanied by an increase in the profit relative to the wage share. Chile has also one of the highest levels of personal income inequality across the OECD countries. The combined effects of the decline in trend growth and high levels of inequality have given rise to increased indebtedness of the household sector, especially of lower income households, and the corporate sector. Lower trend growth, high inequality and increasing debt are the perfect mix that can lead to a context of financial fragility, which puts in doubt the sustainability of the Chilean economic model. EL IMPULSO DE CHILE HACIA LA FRAGILIDAD FINANCIERA RESUMEN Este trabajo argumenta que el modelo economico chileno se caracteriza por tres hechos estilizados que cuestionan el exito atribuido al libre mercado y al neoliberalismo: una baja tendencial en la tasa de crecimiento del producto interno bruto (PIB), acompanado de un aumento de la desigualdad y del endeudamiento. Desde mediados de la decada de 1990, el crecimiento del PIB ha mostrado una tendencia a la baja. Esto ha ido acompanado de un aumento de la participacion del beneficio en el PIB. Este contexto ha dado lugar a un incremento del endeudamiento del sector de los hogares y del sector corporativo. La disminucion del crecimiento tendencial, la alta desigualdad y el aumento de la deuda pueden conducir a un contexto de fragilidad financiera, lo que pone en duda la sostenibilidad del modelo economico chileno.","PeriodicalId":44170,"journal":{"name":"Investigacion Economica","volume":"1 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2020-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68096012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-29DOI: 10.22201/fe.01851667p.2021.315.77565
Verónica Cerezo García, Heri Oscar Landa Díaz
El objetivo de este trabajo es analizar el efecto de la liberalización comercial sobre la productividad, la distribución del ingreso y el crecimiento económico, además de examinar la capacidad de absorción que este proceso ha concedido a los países ante choques externos, como el Covid-19. Empíricamente, tomamos pie en la taxonomía de crecimiento y desigualdad de Fajnzylber (1990) y en un modelo panel para evaluar esta relación en Asia, América Latina y Europa durante el periodo 1990-2019. Los principales resultados muestran: 1) co-movimiento entre crecimiento y equidad en Asia, mientras que en América Latina hay rezagos significativos, y 2) la productividad y la competitividad no precio constituyen el factor dinamizante en Asia y Europa. ECONOMIC GROWTH AND INEQUALITY IN ASIA, EUROPE, AND LATIN AMERICA, 1990-2019ABSTRACTThe paper’s aim is to analyse the effect of trade liberalization on productivity, income distribution and economic growth. The ability of a free-market oriented economy to fence off an exogenous shock such as the Covid-19 pandemic is also dealt with. Following Fajnzylber’s (1990) taxonomy of growth and inequality, we assess the relationship between trade liberalisation, growth and income distribution for a sample set of Asian, Latin American, and European countries over the period 1990-2019. Our main empirical results show that there exist: 1) a co-movement between growth and equality in Asia, but significant lags in both respects prevail in Latin America; 2) productivity and non-price competitiveness are the dynamizing factors in both Asia and Europe
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Pub Date : 2020-09-21DOI: 10.22201/FE.01851667P.2020.314.75474
M. Gómez-Antonio, Angel Alañon-Pardo
Literature on point pattern methods for analyzing geographical concentration of firms has increased dramatically over the last decade. Revision of the state of the art in empirical applications shows that most methods are mainly exploratory while others focus on the identification of cluster determinants. We contribute in this regard by analyzing key features that underline the differences among exploratory methods: Functional form, selection of controls, significance of results, and treatment of edge effects. We also stress the potential and complementarity of new methods such as Gibbs models.
{"title":"POINT PATTERN METHODS FOR ANALYZING INDUSTRIAL LOCATION","authors":"M. Gómez-Antonio, Angel Alañon-Pardo","doi":"10.22201/FE.01851667P.2020.314.75474","DOIUrl":"https://doi.org/10.22201/FE.01851667P.2020.314.75474","url":null,"abstract":"Literature on point pattern methods for analyzing geographical concentration of firms has increased dramatically over the last decade. Revision of the state of the art in empirical applications shows that most methods are mainly exploratory while others focus on the identification of cluster determinants. We contribute in this regard by analyzing key features that underline the differences among exploratory methods: Functional form, selection of controls, significance of results, and treatment of edge effects. We also stress the potential and complementarity of new methods such as Gibbs models.","PeriodicalId":44170,"journal":{"name":"Investigacion Economica","volume":"79 1","pages":"51"},"PeriodicalIF":0.6,"publicationDate":"2020-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43225142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-09-21DOI: 10.22201/FE.01851667P.2020.314.76350
G. A. Tosoni, César Castillo García
Construimos un indice de desigualdad considerando la distribucion de la riqueza, la distribucion factorial y la distribucion personal del ingreso. Con este indicador de dos o tres componentes estimamos y analizamos los resultados para las diferentes economias de America Latina y la region en su conjunto entre 1980 y 2016. Asimismo, determinamos la dispersion entre los diferentes componentes del indicador. Por ultimo, evaluamos la vinculacion entre el crecimiento economico y el indicador de desigualdad mediante un analisis econometrico por economia con base en minimos cuadrados ordinarios (MCO) y en un panel dinamico para toda la region utilizando el metodo de Arellano Bond. Los coeficientes para toda la region tienen signo negativo reflejando que a mayor desigualdad la variacion porcentual del producto interno bruto (PIB) es menor o a menor desigualdad el producto aumenta. INEQUALITY INDEX AND ECONOMIC GROWTH IN LATIN AMERICA ABSTRACT The paper presents an inequality composite index of three components: wealth distribution, factorial income distribution and personal income distribution. This index allows us to analyze different results for the various Latin American economies and for the region as whole in the period 1980-2016. In addition, the paper assesses a dispersion analysis for each of the index components. Finally, we evaluate the effects of the inequality index on economic growth for each Latin American economy by using Ordinary Least Squares (OLS) and dynamic panel data models. The negative coefficient for the entire region shows that the greater (lower) social inequality, the lower (greater) the percentage variation of Gross Domestic Product (GDP).
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Pub Date : 2020-09-21DOI: 10.22201/FE.01851667P.2020.314.76704
Josué Zavaleta González
La acumulación de deuda pública es uno de los problemas que más ocupa la atención del gobierno de cualquier economía. En relación con esto, desde un enfoque ortodoxo, las medidas de austeridad fiscal son la única alternativa para evitar y contrarrestar un grave problema de endeudamiento público. No obstante, recientemente se ha demostrado que la capacidad de estas medidas para resolver este problema es limitada y que incluso podrían agravarlo. En este contexto, y como una respuesta a las dificultades económicas que impondrá la crisis económica mundial por Covid-19, en este artículo demostramos tanto de forma teórica como empírica que una política fiscal expansiva, enfocada en incrementar la inversión pública, tiene la capacidad de reducir, o al menos controlar, la acumulación de deuda pública como porcentaje del producto interno bruto (PIB). PUBLIC DEBT ACCUMULATION AND FISCAL POLICY IN LATIN AMERICAABSTRACT Public debt accumulation is one of the problems to which governments pay more attention. In this regard, from an orthodox approach, fiscal austerity measures are the unique alternative to avoid and counteract a serious problem of public debt accumulation. However, it has recently been shown that the capacity of these policies to respond to this problem is limited and even could aggravate it. In this context, and as a response to the economic difficulties resulted from the global economic crisis imposed by the Covid-19, the aim of this paper is to show theoretically and empirically that an expansive fiscal policy, focused on increasing public investment, could reduce, or at least control, the public debt accumulation as a percentage of Gross Domestic Product (GDP).
公共债务的积累是任何经济体政府最关注的问题之一。与此相关，从正统的角度来看，财政紧缩措施是避免和应对严重公共债务问题的唯一选择。然而，最近的证据表明，这些措施解决这一问题的能力是有限的，甚至可能使问题恶化。在此背景下,为应对这些困难研究所危机impondra全球Covid-19 economica,或多或少在这篇表现形式teorica empirica多年财政政治,专注于提高inversion出版,有能力,或者至少控制、减少债务acumulacion出版占国内生产总值(gdp)的百分比。摘要公共债务积累是各国政府最关注的问题之一。在这方面，从正统的方法来看，财政紧缩措施是避免和对抗公共债务积累严重问题的唯一选择。然而，最近看来，这些政策应对这一问题的能力有限，甚至可能使问题恶化。In this, and as a response to the economic困难民兵from the global economic crisis介于by the Covid-19, the aim of this paper is to show theoretically和empirically that an expansive财政政策聚焦加大公共投资减少,或至少可控制、the public debt as a累积百分比of Gross国内Product(国内生产总值)。
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