Wednesday, October 22, 2014

Prebisch at ECLAC

ECLAC has produced an interesting project on Prebisch in the past and today.  Although most of the resources are in Spanish, it explains key concepts well and it clearly signals how ECLAC has tried to recuperate key concepts from traditional structuralism, including structural hetegoneity and the role of industrial policy.

I only miss a little more discussion of the political economy behind the recommended policies.  Asking for industrial policy and for a compensation of the deteriorating of the terms of trade is meaningless without some thought of who is going to drive the new policies and how they are going to be effective.

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