Globalization and Competition PDF (Adobe DRM) download by Luiz Carlos Bresser Pereira

Globalization and Competition

Cambridge University Press
Publication date: December 2009
ISBN: 9780511687785
Digital Book format: PDF (Adobe DRM)

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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 ënew developmentalismí 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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