The evolution of development conventions

Abstract

This paper presents a conceptual view on development and its translation into development policies. It argues that society's perception of development is structured by conventions, which provide a view of the past, present and future and, at the same time, allows a certain hierarchy of problems and solutions to such problems. The prevalence of a specific convention depends on the international conditions faced by this society and on the distribution of economic and political power within that society. Therefore, in complex societies there is always a struggle for hegemony between competing development conventions.

A contribuição da geografia econômica evolucionária para os estudos sobre conhecimento nas firmas

“…Assim, o pressuposto de coevolução entre firmas, tecnologias e instituições locais e regionais trazido pela Geografia Econômica Evolucionária é fundamental para entender os dilemas das políticas de desenvolvimento local. Como observado por Erber (2012Erber ( , 2008, as convenções de desenvolvimento -entendidas como normas construídas a partir de conhecimento tácito e codificado de uma região -constituem um elemento importante a considerar na trajetória das firmas localizadas num território. Este A contribuição da geografia econômica evolucionária para os estudos sobre conhecimento nas firmas entendimento é essencial para evitar o princípio "one size fits all" na definição de políticas de desenvolvimento regional no país.…”

Convention, interest rates and monetary policy: a post-Keynesian–French-conventions-school approach*

“…We agree with Corrêa (2010) that this convention has the three main features of a general concept of conventions as proposed by Dequech (2009;: social sharing, since the understanding that the Selic rate must remain high is clearly a socially-shared pattern of thought; conformity with the conformity of others, which implies that agents agree to the high level of the Selic, partially at least, because others also do; and arbitrariness, meaning that, given the lack of knowledge or the uncertainty as to the consequences of lowering the Selic more quickly, agents prefer to take the slow course. Erber (2008a;2008b; took an innovative approach when stating that the excessively tight Brazilian monetary policy should be understood from the perspective of political economy. The question is not merely macroeconomic, but the result of a coalition of interests revolving around the maintenance of high interest rates.…”

An empirical criticism of the "FDI development" convention

“…Pro-FDI policies rapidly became a pillar of the Washington consensus growth narrative, a pillar of the "neoliberal development convention" (Erber, 2008). "Development convention are 'stories' told about changes, (...) of how the future will be much better than the present if we follow the prescribed rules" (Erber, 2009).…”