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date: 26 November 2020

Abstract and Keywords

This chapter adopts a historical method to compare the two competing strategies that Latin America faces today: conventional orthodoxy and new developmentalism. The second section discusses old or national developmentalism, its relation to the Latin American structuralist school of thought, and its success in promoting economic growth between 1930 and 1980. The third section discusses the causes for the demise of national developmentalism and its substitution by the Washington consensus or conventional orthodoxy. Given the failure of this alternative to promote stability and growth, the fourth section discusses the rise of structuralist development macroeconomics and new developmentalism. The fifth and sixth sections compare new developmentalism with old developmentalism, and new developmentalism with conventional orthodoxy.

Keywords: conventional orthodoxy, new developmentalism, national developmentalism, structuralist development macroeconomics, Latin American structuralism

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