Contemporary Principles of Heterodox Political Economy

2009 ◽  
pp. 38-57 ◽  
Author(s):  
Ph. O’Hara
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
Economic Development ◽  
Ethnic Discrimination ◽  
Mainstream Economics ◽  
Theoretical Perspectives ◽  
Analytical Review ◽  
New Ideas ◽  
Historical Specificity ◽  
Scientific Results

In this analytical review the author describes the main trends in the modern heterodox political economy as an alternative to mainstream economics. Historical specificity as well as the contradictory and uneven character of economic development are examined in detail. The author also discusses problems of class, gender and ethnic discrimination and their influence on economic growth. It is shown that there are tendencies to convergence of different theoretical perspectives and schools, common themes, topics of research and conceptual apparatus are being formed. The forces of integration and differentiation help establish new ideas and receive interesting scientific results in such fields as development economics, macroeconomics and international economics.

THE VANISHING EFFECT OF FINANCE ON ECONOMIC DEVELOPMENT

2019 ◽  
pp. 1-43
Author(s):  
Klaus Gründler
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial Development ◽  
Productivity Growth ◽  
Oecd Countries ◽  
Growth Effect ◽  
Factor Productivity ◽  
Average Effect ◽  
Innovation Projects ◽  
New Ideas

This paper examines the mechanisms that determine the “vanishing effect of finance” on economic growth found in recent studies. Based on both current (171 countries, 1960–2014) and historical (21 OECD countries, 1870–2009) data, the results show that financial development promotes growth in poorer countries by increasing education and investment, and by decreasing fertility. The relevance of these transmission channels declines when countries become richer. The growth effect of the financial sector in high-income countries primarily depends on new ideas and potentials for innovation projects. Consequently, the major decline in factor productivity growth since the early 2000s has contributed to the reduction in the financial sector’s average effect on growth.

scholarly journals Political Economy of Interculture Differences: An EU Perspective

2020 ◽  
Vol V (I) ◽  
pp. 303-315
Author(s):  
Noor Fatima ◽  
Muhammad Imran Ashraf ◽  
Ameer Abdullah
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
Economic Development ◽  
Human Behavior ◽  
Cultural Change ◽  
Economic Life ◽  
Cultural Norms ◽  
New Approach ◽  
Cultural Variables ◽  
The Eu

Economic development is always linked with systematic changes in human behavior, its basic value and cultural change are paths dependent on it. The study illustrates the culture value that converges the EU into a single European value landscape. Current economic growth theories do not take into account cultural variables at national levels and economic life happens in asocial context and it affects economic development. This paper gives an overview of earlier relevant studies on cultural and economic growth and established linkage between cultural norms and its economic outcome from the EU perspective. The paper concludes that culture is ought to play a central role in devising the plan for the future of Europe. The paper suggests some recommendations that a new approach may be allowed with a change of mindset which should not practice the notion that what is not allowed is forbidden to what is not forbidden is allowed.

Political Economy of Turkey since the End of World War II

2020 ◽  
Author(s):  
Şevket Pamuk
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
Economic Development ◽  
World War Ii ◽  
Political System ◽  
Economic Policies ◽  
Negative Consequences ◽  
World War ◽  
Social Actors

This chapter examines the interaction between economic growth, the leading social actors, the state, and the global economic system in Turkey. The country’s long-term record in economic growth and human development has been close to world averages and a little above developing country averages. Turkey has experienced serious difficulties in establishing a pluralistic, open, and stable political system since 1950. While class cleavages have always mattered, equally important have been identity cleavages at both the societal and elite levels, most importantly between secularists and Islamists and between Turkish and Kurdish nationalists. These cleavages had negative consequences for state capacity and its ability to implement rules-based economic policies. The recurring tensions between the competing elites, the mixed outcomes associated with state interventionism, and the periods of political instability have made it difficult to attain a stronger record of economic development.

scholarly journals Exchange rate policy, class conflict and economic development from Furtado’s view

2019 ◽  
Vol 39 (1) ◽  
pp. 23-38
Author(s):  
LUCIO BARBOSA ◽  
FABRICIO MISSIO ◽  
FREDERICO JAYME JR.
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
Economic Development ◽  
Exchange Rate ◽  
Social Conflict ◽  
Exchange Rate Policy ◽  
Class Conflict ◽  
Rate Policy ◽  
Economic Formation

ABSTRACT The aim of this paper is to analyze the contributions of Celso Furtado regarding the role of exchange rate policy and its relation to social conflict in the economic growth of peripheral economies. For that, we revisit Furtado’s analyses about the Venezuelan case and in The Economic Formation of Brazil. We highlight two main conclusions from such works: i) exchange rate appreciation due to a natural resources curse harms economic growth; ii) exchange rate policy is mainly a phenomenon associated with political economy, in which social conflict emerges. Hence, we claim that Furtado’s analyses are still significant today.

scholarly journals POLITICAL ECONOMY OF INTERCULTURE DIFFERENCES: AN EU PERSPECTIVE

2016 ◽  
Vol 1 (1) ◽  
pp. 65-77
Author(s):  
Noor Fatima ◽  
Muhammad Imran Ashraf ◽  
Ameer Abdullah
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
Economic Development ◽  
Human Behavior ◽  
Cultural Change ◽  
Economic Life ◽  
Cultural Norms ◽  
New Approach ◽  
Cultural Variables ◽  
The Eu

Economic development is always linked with systematic changes in human behavior, its basic value and cultural change are paths dependent on it. The study illustrates the culture value that converges the EU into a single European value landscape. Current economic growth theories do not take into account cultural variables at national levels and economic life happens in asocial context and it affects economic development. This paper gives an overview of earlier relevant studies on cultural and economic growth and established linkage between cultural norms and its economic outcome from the EU perspective. The paper concludes that culture is ought to play a central role in devising the plan for the future of Europe. The paper suggests some recommendations that a new approach may be allowed with a change of mindset which should not practice the notion that what is not allowed is forbidden to what is not forbidden is allowed.

The Political Economy of Growth and Development in India

2017 ◽  
Author(s):  
Stuart Corbridge ◽  
John Harriss ◽  
Craig Jeffrey
Keyword(s):  
Economic Growth ◽  
Political Economy ◽  
Economic Development ◽  
Growth And Development ◽  
Import Substitution ◽  
Economic Reforms ◽  
The Political ◽  
Poor People ◽  
Elite Politics ◽  
East And Southeast Asia

This article examines two puzzling trends that have characterized India’s economic growth. The first is how and why the political economy of development in India discarded an earlier model of import-substitution industrialization that was widely supported by the country’s dominant proprietary groups. The second is why, despite India’s economic success, poor people have remained mired in extreme poverty compared to China and some other countries in East and Southeast Asia. The article begins by looking at India’s economic development between 1950 and 1980 and then turns to economic reforms pursued by various governments. It also considers some of the factors that led India to embrace a more concerted agenda of pro-market reforms in the 1990s, including the economic crisis of 1990–1991 and elite politics.

Introduction

2021 ◽  
pp. 1-18
Author(s):  
Adam Szirmai ◽  
Neil Foster-McGregor
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Political Economy ◽  
Economic Development ◽  
Structural Change ◽  
Labour Demand ◽  
Employment Dynamics ◽  
Complex Interactions ◽  
Socio Economic Development

Structural change is an important dimension of socio-economic development, closely connected with economic growth, as well as with innovation and technological change, international trade, political economy, employment dynamics and labour demand, inequality and poverty, and climate change, among many others. The current volume discusses the relationships between these and other factors and structural change, with this introductory chapter providing an analytic overview of the major themes discussed in the volume. The chapter seeks to discuss these issues in broad terms, highlighting the complex interactions between structural change and these different factors, thereby emphasizing the myriad ways through which structural change can impact upon—and be affected by—socio-economic outcomes.

State Institutions and Economic Performance in Nineteenth-Century Egypt

2020 ◽  
Author(s):  
Lisa Blaydes ◽  
Safinaz El Tarouty
Keyword(s):  
Economic Growth ◽  
Nineteenth Century ◽  
Political Economy ◽  
Economic Development ◽  
Economic Performance ◽  
Relative Lack ◽  
State Institutions ◽  
Societal Actors ◽  
The Relationship ◽  
The Way

This article examines the relationship between state institutions and economic development in nineteenth-century Egypt. Leading theories in political economy suggest that centralized, yet constrained, state institutions are essential prerequisites for generating high levels of economic growth and prosperity. The article considers the ways in which centralizing reforms in nineteenth-century Egypt concentrated power in the hands of the khedives, damaging the capacity for other societal actors to constrain the executive. The relative lack of constraints on the Egyptian khedives permitted excessive borrowing that paved the way for European colonial intervention, with implications for economic development.

Peculiarities of Modern Dynamics of the Global Economy

2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Cycles ◽  
Global Economy ◽  
Long Waves ◽  
Rapid Expansion ◽  
Business Taxation ◽  
Modern World ◽  
China And India ◽  
World Economic

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.

What Did The Study of The Soviet Economy Contribute to Mainstream Economics?

2010 ◽  
pp. 39-55
Author(s):  
M. Ellman
Keyword(s):  
Economic Growth ◽  
Property Rights ◽  
General Equilibrium ◽  
Informal Sector ◽  
Institutional Economics ◽  
Soviet Economy ◽  
General Equilibrium Theory ◽  
Mainstream Economics ◽  
Universal Applicability ◽  
Soviet Experience

This article is an overview of the contribution made by economic Sovietology to mainstream economics. The long debate about the universal applicability of mainstream economics is reconsidered in the light of the Soviet experience. Information is provided on the contribution of the study of the Soviet economy to fields as diverse as the measurement of economic growth, institutional economics, economic administration, the economics of property rights, the economics of the informal sector, the economics of famines, the Austrian critique of general equilibrium theory, and incentives.

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