<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672021000300003</article-id>
<article-id pub-id-type="doi">10.22201/fe.01851667p.2021.317.79804</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[The economics of New Developmentalism: A critical assessment]]></article-title>
<article-title xml:lang="es"><![CDATA[La economía del Nuevo Desarrollismo: Una evaluación crítica]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Palley]]></surname>
<given-names><![CDATA[Thomas]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Washington  ]]></institution>
<addr-line><![CDATA[Washington DC]]></addr-line>
<country>USA</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2021</year>
</pub-date>
<volume>80</volume>
<numero>317</numero>
<fpage>3</fpage>
<lpage>33</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672021000300003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672021000300003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672021000300003&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT This paper critically assesses the economics of New Developmentalism (ND). It begins by identifying and formalizing the principal components of ND which are identified as neutralizing Dutch disease, ending growth with foreign saving, development driven by a technologically advanced and internationally competitive manufacturing private sector, and getting macroeconomic prices right. It then examines four strands of critique consisting of internal economic logic critiques, Classical Developmentalism (CD) critiques, Keynesian and Neo-Kaleckian critiques, and the fighting the last war critique. To this author, ND is best understood as a Third Way styled analysis that blends CD heterodoxy and Neoliberalism. However, ND&#8217;s substantive policy recommendations lean in the Neoliberal direction, particularly as regards budget deficits and state intervention in the development process. From a Classical Development perspective, the problematic of development cannot be solved as easily as suggested by ND.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN En este artículo evalúo de forma crítica la economía del nuevo desarrollismo (ND). Comienza por identificar y formalizar los principales componentes del ND descritos por la neutralización de la enfermedad holandesa, la eliminación del crecimiento con ahorro externo, el desarrollo motivado por un sector manufacturero privado tecnológicamente avanzado y competitivo a nivel internacional y el establecimiento de precios macroeconómicos correctos. Posteriormente examino cuatro aspectos consistentes en la crítica de la lógica económica interna, la crítica del desarrollismo clásico (DC), las críticas keynesiana y neokaleckiana y la lucha de la crítica de la última guerra. El ND se entiende mejor como un análisis estilizado de tercera vía que combina heterodoxia y neoliberalismo. Sin embargo, sus recomendaciones de política sustantivas se inclinan en dirección neoliberal, en particular en lo que se refiere a los déficit fiscales y a la intervención del Estado en el proceso de desarrollo. Desde la perspectiva del desarrollo clásico, la problemática del desarrollo no puede resolverse de forma tan fácil como sugiere el ND.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[New developmentalism]]></kwd>
<kwd lng="en"><![CDATA[classical developmentalism]]></kwd>
<kwd lng="en"><![CDATA[Dutch disease]]></kwd>
<kwd lng="en"><![CDATA[growth with foreign saving]]></kwd>
<kwd lng="en"><![CDATA[macroeconomic prices]]></kwd>
<kwd lng="es"><![CDATA[nuevo desarrollismo]]></kwd>
<kwd lng="es"><![CDATA[desarrollismo clásico]]></kwd>
<kwd lng="es"><![CDATA[enfermedad holandesa]]></kwd>
<kwd lng="es"><![CDATA[crecimiento con ahorro externo]]></kwd>
<kwd lng="es"><![CDATA[precios macroeconómicos]]></kwd>
</kwd-group>
</article-meta>
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