Helder Lara Ferreira-Filho & José Luis da Costa Oreiro

To cite this article: Helder Lara Ferreira-Filho & José Luis da Costa Oreiro (2026) Kaldor’s transition from growth to development economics: is there a role for Prebisch and ECLA? Journal of Post Keynesian Economics, 49:1, 1-26, DOI: 10.1080/01603477.2025.2582143

To link to this article: https://doi.org/10.1080/01603477.2025.2582143

Abstract

Nicholas Kaldor is widely recognized for his seminal contributions
to post-Keynesian growth theory. However, his intellectual
trajectory reveals a significant transition from formal, fullemployment-
based growth models (such as those from 1957–
1958) to a robust focus on the problems of development economics.
This paper investigates the catalysts for this evolution,
hypothesizing a probable role for Kaldor’s interactions with
Ra�ul Prebisch and the Economic Commission for Latin
America (ECLA). The analysis traces the shift in Kaldorian
thought, arguing that his 1956 visit to ECLA and his consulting
experiences in developing countries (notably Chile) had an
impact. We demonstrate how Kaldor progressively incorporated
key elements of the structuralist agenda, including a
critique of comparative advantage, the advocacy of industrialization
as the engine of growth (based on increasing returns),
the importance of balance-of-payments constraints, and the
analysis of structural inflation. The article concludes that the
dialogue with Prebisch and ECLA was part of Kaldor’s transition
from an economics of “growth” to an economics of
“development”.

Introduction

Nicholas Kaldor is widely recognized as one of the most influential economists
of the 20th century, particularly within the Keynesian tradition
(Harcourt 2001, 239; Thirlwall 1996, 145). His intellectual trajectory was
marked by substantial revisions of his own theories, reflecting both his concern
with the adherence of theoretical models to economic reality and his
interaction with different schools of thought and empirical experiences.
From his initial training as a neoclassical economist to his consolidation as
a leading exponent of post-Keynesian growth theory, Kaldor demonstrated
a unique ability to reformulate his ideas in response to new evidence and
historical contexts.

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