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Implications of Post-Keynesian Economics for the Study of Growth Models in the Global North and South | Workshop

On September 9 2021 we would hold the Second Workshop of the Growth Models in the Global South Network.

See the Call for Paper here and the program to the workshop here.

The workshop opens with the keynote lecture by Prof. Engelbert Stockhammer (King’s College London) on Post-Keynesian Economics, Comparative Political Economy and Growth ModelsProf. Engelbert Stockhammer, King’s College London.

Twenty years after the publication of the volume on Varieties of Capitalism (VoC), which became a seminal paradigm in the field of Comparative Capitalism (CC), it seems as if its dominance is challenged by a new comparative paradigm, which focuses on countries’ Growth Models (GM). Yet, as an emerging research frontier in CC, various questions about the use of the GM in comparative research remain unresolved, particularly for countries in the Global South. Our workshop seeks to address those questions.

The theme of the workshop revolves around three key issues:

  • First, whereas the GM literature is centered on the demand-side analysis (in distinction to the VoC, which is centered on the supply-side), its exact foundation in post-Keynesian scholarship still is contested. Our workshop seeks to contribute to current attempts to bring Post-Keynesian Economics (PKE) into the CC research agenda. This will be done through sharpening definitions and concepts, operationalization of growth models, demand and growth regimes, and their measurement.
  • Second, the Post-Keynesian Growth Model approach (PK-GM) brings to the fore the interaction between domestic features of a country’s GM and its external features. Given that exports can be a crucial source of demand, an analysis of a country’s GM cannot put aside the international environment. Therefore, there is a need to build bridges between CC theories and IPE theories. This will be done by offering middle-range theories or mechanisms that explore causal links between a country’s GM and interactional factors such as flows, institutions, and structures.
  • Thirdly, following the previous aspect, we are also interested in the application of the GM theory to different types of countries. We would like to understand how structural features of the economies determine the GM. Here, we refer to features such as the country’s level of development (advanced, emerging or developing) and to its size (large or small). Also, countries in the global south face specific constraints in the international financial system and in global value chains. How do these shape national growth models and how they differ from those in advanced economies? Generally speaking, we will be interested in exploring variations of GM between the Global North and the Global South.

Program: Implications of Post-Keynesian Economics for the Study of Growth Models in the Global North and South: Theoretical and Methodological Challenges

Opening Remarks by Arie Krampf

Keynote Lecture

Post-Keynesian Economics, Comparative Political Economy and Growth Models.
Prof. Engelbert Stockhammer, King’s College London

Panel 1: Growth model and the Global System (1)                                            

Financialization and macroeconomic regimes in emerging capitalist countries before and after the Great Recession.
Ümit Akcay, Eckhard Hein and Benjamin Jungmann

American Financial Hegemony, Global Capital Cycles, and the Macroeconomic Growth Environment.
Heather Ba and William Kindred Winecoff

Subordinate financialised capitalism in Emerging Capitalist Economies
Bruno Bonizzi, Annina Kaltenbrunner and Jeff Powell

Panel 2: Growth and Social Blocs

Can coalitions produce social blocs? Making sense of changes in development growth models in the Global South
Antônio Botelho and Moisés Balestro

Growth Models in Emerging Capitalist Economies
Daniel Mertens, Andreas Nölke, Michael Schedelik, Christian May, Tobias ten Brink, and Alexandre de Podestá Gomes

Revitalizing Growth: Labour’s Role in the (Re)Formation of Israel’s Growth Model
Assaf Bondy & Erez Maggor

Panel 3: Growth models in small states

From consumption-led to export-led growth: the case of institutional complementarity in the Baltic States
Marius Kalanta

A Mercantilist Export-Led Growth Model as Economic Statecraft: The impact of geopolitics on Israel’s growth models
Arie Krampf

Does internal devaluation boost export-led growth? The political economy of growth models in Greece and Portugal
Konstantinos Myrodias

Viet Nam’s trade-led growth, balance of payments and macro resilience 
Elodie Mania, Arsène Rieber and Tran Thi Anh-Dao

Panel 4: Growth Models and the Global System (2)

Growth theory and the growth models perspective: insights from the supermultiplier.
Guilherme Spinato Morlin, Nikolas Passos and Riccardo Pariboni

Global capitalist accumulation and growth models                 
Thomas Kalinowski and Robert Pauls

Concluding remarks                                    

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