This is a personal account of the definition of "new developmentalism" - a national development strategy alternative to the Washington consensus -, and of a "structuralist development macroeconomics": the sum of models that justifies theoretically that strategy. It is personal account of a...

Globalization and catching up -- The key institution -- New developmentalism -- The tendency of the exchange rate toward overvaluation -- The Dutch disease -- Foreign savings and slow growth -- Foreign savings and financial crises