Crossing boundaries: an assessment to the influence of post-Keynesianism on developmental macroeconomics

Vol. 38 No. 4 (2018)

Oct-Dec / 2018
Published February 26, 2020
PDF-English
PDF-English

How to Cite

Cruz e Silva, Victor, and Marcelo Curado. 2018. “Crossing Boundaries: An Assessment to the Influence of Post-Keynesianism on Developmental Macroeconomics”. Brazilian Journal of Political Economy 38 (4):611-28. https://doi.org/10.1590/0101-3157-2018-2827.

Crossing boundaries: an assessment to the influence of post-Keynesianism on developmental macroeconomics

Victor Cruz e Silva
Universidade Federal do Paraná, Curitiba/PR, Brasil.
Marcelo Curado
Universidade Federal do Paraná, Curitiba/PR, Brasil.
Brazilian Journal of Political Economy, Vol. 38 No. 4 (2018), Oct-Dec / 2018, Pages 611-628

Abstract

Developmental macroeconomics, the economic theory that grounds new developmentalism, is a heterodox approach whose establishment was deeply influenced by dissonant schools of thought. Among these, post-Keynesianism occupies a special place. This essay aims at identifying the aspects of developmental macroeconomics in which this post-Keynesian influence is more notorious. To serve this purpose, we compare the economic diagnoses, social objectives and policy prescriptions defended by the partisans of these two schools of economic thought. Our conclusion is that despite the significant influence of post-Keynesianism in the formation of the new developmentalist strategy, there are several aspects of this strategy that must be understood as an original contribution of the Brazilian developmental school.

JEL Classification: B22; B59.


Keywords: Developmental macroeconomics new developmentalism post-Keynesianism policy prescriptions theoretical influence