Economic Nationalism and Developmentalism

This paper offers an overall picture of economic nationalism and its relationship with developmentalism – the form of economic and political organization alternative to economic liberalism that involves a moderate but effective state intervention. Why nationalism is a modern ideology; how it is associated with the nation and the nation-state; why it confronts with the West\u27s imperialism. Why, given the competition among nation-states that characterizes global capitalism, there is an “anti” element to nationalism. Why developing countries must challenge the West\u27s ideological hegemony and define a project of economic development that makes them able to compete Internationally and make the catching up

Economic Nationalism and Developmentalism

This paper offers an overall picture of economic nationalism and its relationship with developmentalism – the form of economic and political organization alternative to economic liberalism that involves a moderate but effective state intervention. Why nationalism is a modern ideology; how it is associated with the nation and the nation-state; why it confronts with the West\u27s imperialism. Why, given the competition among nation-states that characterizes global capitalism, there is an “anti” element to nationalism. Why developing countries must challenge the West\u27s ideological hegemony and define a project of economic development that makes them able to compete Internationally and make the catching up

Dutch disease-cum-financialization booms and external balance cycles in developing countries

We formally investigate the medium-to-long-run dynamics emerging out of a Dutch disease-cum-financialization phenomenon. We take inspiration from the most recent Colombian development pattern. The “pure” Dutch disease first causes deindustrialization by permanently appreciating the economy’s exchange rate in the long run. Financialization, i.e. booming capital inflows taking place in a climate of natural resource-led financial over-optimism, causes medium-run exchange rate volatility and macroeconomic instability. This jeopardizes manufacturing development even further by raising macroeconomic uncertainty. We advise the adoption of capital controls and a developmentalist monetary policy to tackle these two distinct but often intertwined phenomena