Globalization and Competition : Why Some Emergent Countries Succeed while Others Fall Behind [ electronic resource] / by Luiz Carlos Bresser Pereira.
By: Bresser Pereira, Luiz Carlos.
Material type:
TextPublisher: Cambridge: Cambridge University Press , 2010ISBN: 9780511691928 (e-book).Subject(s): Economics | Politics and International Relations | Political Economy | Economic Development and GrowthGenre/Form: Electronic booksDDC classification: 337.091724 Online resources: https://doi.org/10.1017/CBO9780511691928 View to click Summary: Globalization and Competition explains why some middle-income countries, principally those in Asia, grow fast while others are not successful. The author criticizes both old-style developmentalism and the economics of the Washington Consensus. He argues instead for a 'new developmentalism' or third approach that builds on a national development strategy. This approach differs from the neoliberal strategy that rich nations propose to emerging economies principally on macroeconomic grounds. Developing countries face a key obstacle to growth, namely, the tendency to overvaluate foreign exchange. Instead of neutralizing it, the policy that rich countries promote mistakenly seeks growth through foreign savings, which causes additional appreciation of the national currency and often results in financial crises rather than genuine investment.
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E-Book
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WWW | 337.091724 BRE/G (Browse shelf) | Available | EB201 |
Globalization and Competition explains why some middle-income countries, principally those in Asia, grow fast while others are not successful. The author criticizes both old-style developmentalism and the economics of the Washington Consensus. He argues instead for a 'new developmentalism' or third approach that builds on a national development strategy. This approach differs from the neoliberal strategy that rich nations propose to emerging economies principally on macroeconomic grounds. Developing countries face a key obstacle to growth, namely, the tendency to overvaluate foreign exchange. Instead of neutralizing it, the policy that rich countries promote mistakenly seeks growth through foreign savings, which causes additional appreciation of the national currency and often results in financial crises rather than genuine investment.
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