Laporde 2014

The Fifth Latin American Advanced Programme on Rethinking Macro and Development Economics


Hosted by

São Paulo School of Economics FGV/SP


with support from FAPESP


6 January – 10 January, 2014

Fundação Getúlio Vargas, São Paulo, Brazil





The Programme is mainly intended for young academics. The list of confirmed lecturers includes Ha-Joon Chang (Cambridge University), Gabriel Palma (Cambridge University), Jose Antonio Ocampo (Columbia University), Thomas Palley (AFL-CIO, Washington DC), Luiz Carlos Bresser-Pereira (Sao Paulo School of Economics from Fundação Getulio Vargas) and Nelson Barbosa (Sao Paulo School of Economics from Fundação Getulio Vargas). The Programme is free of charge, but unfortunately we will not fund travel and accommodation expenses of successful candidates. Applications, including a CV, transcripts and a letter of recommendation, should be sent, with a covering letter, to . All documents should be sent by December 3rd, 2013. Candidates will be notified of the results on December 7th. We would also like to encourage ex-participants (Laporde, Caporde or Aporde) to submit papers to be presented in extra sessions. For details, please refer to the pages sent out with this poster. Please contact Nelson Marconi ( or Laura Carvalho ( for further inquiries.


An Announcement for the Fifth

Latin American Advanced Programme on

Rethinking Macro and Development Economics, hosted by the

São Paulo School of Economics, Fundação Getúlio Vargas, São Paulo, Brazil

January 6th – January 10th, 2014



São Paulo School of Economics is hosting an advanced summer programme on rethinking macro and development economics. The programme builds on the experience of the successful Cambridge Advanced Programme on Rethinking Macro and Development Economics (CAPORDE), which was held in Cambridge University, UK, from 2002 to 2008 and will be held for the fifth time at the São Paulo School of Economics, São Paulo, from January 6th to 10th, 2014. The programme will admit a selected group of young academics, preferably from developing countries with a focus on Latin America, and provide them with lectures, discussions, and research workshops with leading scholars on cutting edge topics in macro and development economics from a number of critical perspectives. There will be no tuition fees, but the Programme will not cover travel and accommodation expenses of successful candidates.


We are also encouraging participants in previous programmes (Laporde, Caporde or Aporde) to submit papers to be selected and presented in extra sessions during this Programme. Unfortunately, due to budget restrictions, we will pay tickets only for South American presenters, and accommodations for all presenters whose papers will be accepted. We will define the number of selected papers after receive them.




In the wake of the deepest economic crisis in the past 80 years, the reputation of orthodox economics has taken a beating. The profession is now suffering from guilt and rancour. In a recent lecture, Paul Krugman argued that much of the past 30 years of macroeconomics was “spectacularly useless at best, and positively harmful at worst.” Barry Eichengreen, a prominent American economic historian, also highlighted that the crisis has “cast into doubt much of what we thought we knew about economics”.


Even if there is an increasing demand for alternative approaches to economic theory, the supply is not responding accordingly. The older generation of development economists of the 1960s and 1970s vintage has been, over the last few decades, edged out of most major universities in international centers of academic excellence, especially in the US. The situation in most developing countries is even worse. While in these countries there may be more demand for alternatives to orthodox development economics, these countries have lacked the capability to generate such alternatives. Due to resource constraints, among other problems, researchers and students from developing countries tend to rely on a small number of standard textbooks and publications from multilateral financial institutions, which severely restricts their exposure to alternative approaches.


The Programme


The programme intends to fill this important intellectual gap. It will afford an opportunity to a select group of young academics whose research interest is in economic development and Latin America and want to gain exposure to frontier research undertaken from critical perspectives on key issues in development and macroeconomics. The teaching will be conducted through lectures and discussions provided by some of the world’s leading academics in relevant fields.


Each day of the workshop will consist of two or three lectures, from 9 to 18:30, and there will also be evening round tables, in which submitted and selected papers from ex-Laporde, Caporde or Aporde participants might present them. The sessions will include at least two hours of lecturing and at least 30 minutes of discussions with some breaks. Lectures will be presented in English. Each evening round table will last one hour and a half. There will also be informal contacts between students and faculty during lunch, tea and coffee breaks. The details of the preliminary programme are below or at Laporde’s website ( or




The applicants are expected to have at least a Master’s degree in economics or in relevant subjects with a strong background in economics (e.g., development studies, public administration) and currently be engaged in academic jobs (teaching or research). Some will be chosen from outside academia (e.g., government, private sector, NGOs), if they have the minimum academic qualification and relevant experience. All these are, however, basic guidelines, and all cases will be considered on their own merits.


Those who wish to apply for the course should send their Curriculum Vitae, an official transcript (showing courses taken and grades gained) from BA onwards, and one letter of reference from someone who is familiar with their academic work. For students whose main medium of instruction during their education was not English, some proof of English proficiency will be necessary. Results of standard English proficiency tests (e.g., TOEFL or IELTS) will be preferable, but other proof may be also accepted (e.g., a sample of written work in English). Applications should be accompanied by a covering letter, indicating the applicant’s full contact details (including the e-mail address, which will be the main means of communication during the admissions process), their fields of interest within development economics and the motivation to join the Programme. They should be sent to The deadline is December 3rd2013. While we will not individually acknowledge the receipt of the documents, we will be happy to confirm the receipt if asked. Successful candidates will be notified of the outcome of their applications by December 7th, and will be asked for a prompt confirmation of participation.


Submissions of papers


Participants from previous Programmes – Laporde, Caporde or Aporde – can submit a paper to be presented in an extra session. The number of accepted papers is not yet defined, as well as the number of extra sessions, and they will be settled according to the number of submitted papers. The topic should be related to the framework of the Programme, and the paper should have no more than 25 pages. We will cover accommodation of all researchers whose paper is accepted, but unfortunately, due to budget constraints, we will only cover the air ticket for presenters coming from South American countries. The papers also have to be submitted by December 3rd by electronic message Presenters will receive a certificate. 




*Please note that the following is a provisional list and subject to minor changes. The extra sessions are not included in this preliminary version of the program.



Day 1 (Monday, January 6)
Morning: (9:00hs – 13:00hs)
1. Introduction to the Workshop (Luiz Carlos Bresser-Pereira, São Paulo School of Economics, Ha-Joon Chang, University of Cambridge, Yoshiaki Nakano, São Paulo School of Economics, Nelson Marconi, São Paulo School of Economics, Laura Barbosa de Carvalho, São Paulo School of Economics)
2. The Market, the State and Institutions (Ha-Joon Chang, University of Cambridge)
(Coffee Break: 10:45hs-11:15hs)
Afternoon: (14:30hs – 18:30hs)
3. The Global Monetary System (Jose Antonio Ocampo, Columbia University)
(Coffee Break: 16:15hs-16:45hs)
Day 2 (Tuesday, January 7)
Morning: (9:00hs – 13:00hs)
4. Impacts of the global financial crisis on Latin America (Jose Antonio Ocampo (Columbia University)
(Coffee Break: 10:45hs-11:15hs)
Afternoon: (14:30hs – 18:30hs)
5. The exchange rate and development macroeconomics (Luiz Carlos Bresser-Pereira, São Paulo School of Economics)
(Coffee Break: 16:15hs-16:45hs)
Farewell Dinner (19:30hs): “Bonde Paulista Pizzaria” - Oscar Freire Street, 1597
Day 3 (Wednesday, January 8)
Morning: (9:00hs – 13:00hs)
(Coffee Break: 10:45hs-11:15hs)
6. Industrial Policy: Can we go beyond an unproductive confrontation? (Ha-Joon Chang, University of Cambridge)
Afternoon: (14:30hs – 18:30hs)
7 The Dutch disease revisited (Luiz Carlos Bresser-Pereira, São Paulo School of Economics)
(Coffee Break: 16:15hs-16:45hs)
Day 4 (Thursday, January 9)
Morning: (9:00hs – 13:00hs)
(Coffee Break: 10:45hs-11:15hs)
8. Growth and income distribution in Brazil (Nelson Barbosa, São Paulo School of Economics)
Afternoon: (14:30hs – 18:30hs)
9. Why is inequality so unequal across countries -- and what can we do about it?” (Gabriel Palma, University of Cambridge)
(Coffee Break: 16:15hs-16:45hs)
Day 5 (Friday, January 10)
Morning: (9:00hs – 13:00hs)
10. Gattopardo economics: The crisis and the mainstream response of change that keeps things the same (Thomas Palley, AFL-CIO, Washington DC)
(Coffee Break: 10:45hs-11:15hs)
11. Global imbalances and the revised Bretton Woods hypothesis: Wrong before the crisis and wrong after (Thomas Palley, AFL-CIO, Washington DC)
Afternoon: (14:30hs – 18:30hs)
12. The Economics of the Phillips Curve: Formation of Inflation Expectations versus Incorporation of Inflation Expectations (Thomas Palley, AFL-CIO, Washington DC)
(Coffee Break: 16:15hs-16:45hs)
13. What is neo-liberalism all about, and why did it take such a specific form in Latin America? (Gabriel Palma, University of Cambridge)






Classes and Papers:

Industrial Policy: Can we go beyond an unproductive confrontation? (Ha-Joon Chang, University of Cambridge).pdf105.99 KB
Industrial Policy: Can we go beyond an unproductive confrontation? Text_Version (Ha-Joon Chang, University of Cambridge).pdf191.62 KB
The Market, the State and Institutions (Ha-Joon Chang, University of Cambridge).pdf736.92 KB
Backwardbend PC - Manchester School 2003 (Thomas Palley, AFL-CIO, Washington DC).pdf122.81 KB
Brazil - Thomas Palley LAPORDE 2014 Readings (Thomas Palley, AFL-CIO, Washington DC).pdf19.3 KB
Bretton Woods II Hypothesis - 2013 - EJEEP (Thomas Palley, AFL-CIO, Washington DC).pdf120.46 KB
Gattopardo Economics - EJEEP Proofs 2013 (Thomas Palley, AFL-CIO, Washington DC).pdf326.53 KB
OptimumCcy and PC - Intervention 2006 (Thomas Palley, AFL-CIO, Washington DC).pdf123.52 KB
Phillips Curve - Scandinavian Journal 1994 (Thomas Palley, AFL-CIO, Washington DC).pdf226.78 KB
Phillips Curve - SCED 2012 (Thomas Palley, AFL-CIO, Washington DC).pdf539.01 KB
ROKE Founding statement - 2012 (Thomas Palley, AFL-CIO, Washington DC).pdf39.85 KB
Global Imbalances - BRAZIL SLIDES (Thomas Palley, AFL-CIO, Washington DC).pdf38.5 KB
Gatto pardo economics - BRAZIL SLIDES (Thomas Palley, AFL-CIO, Washington DC).pdf614.86 KB
Phillips Curve - BRAZIL SLIDES (Thomas Palley, AFL-CIO, Washington DC).pdf62.72 KB
Desenvolvimentistas-liberais-e-o-baixo-crescimento (Luiz Carlos Bresser-Pereira, São Paulo School of Economics).pdf11.67 KB
Aulas-Laporde-2014-Bresser (Luiz Carlos Bresser-Pereira, São Paulo School of Economics).pdf1018.78 KB
Financial Architecture (Jose Antonio Ocampo (Columbia University).pdf309.38 KB
AL_14_01_LAPORDE (Jose Antonio Ocampo (Columbia University).pdf683.86 KB
The Revenge of the Market on the Rentiers (Gabriel Palma, University of Cambridge).pdf1.65 MB
Homogeneous middles vs. heterogeneous tails, and the end of the ‘Inverted-U’ (Gabriel Palma, University of Cambridge).pdf1.55 MB
IPE final - short & revised (Gabriel Palma, University of Cambridge).pdf463.87 KB
Links for Palma's classes (Gabriel Palma, University of Cambridge).pdf20.43 KB
La Crisis de Deuda Soberana en la Unión Europea (Juan Manuel Telechea).pdf826.1 KB
Incorporating Import Coefficients into a Structural Decomposition Analysis (Guilherme Riccioppo Magacho).pdf171.37 KB
The Current Financial and Economic Crisis (Eduardo Strachman and José Ricardo Fucidji).pdf711.87 KB
Financialization, Housing Bubble, and the Great Recession (Fernando M. Rugitsky).pdf6.13 MB
Juan Manuel Telechea LAPORDE Presentation.pdf618.3 KB
LAPORDE 2014 (Nelson Barbosa, São Paulo School of Economics).pdf360.54 KB


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