Abstract
Economic development theory is a reflection of different periods' economic, political, and social situations. At the same time, economic theory's emergence and development have an impact on economic, political, and social processes. After the debt crisis in Latin America, structuralism and neon-structuralism had a significant impact on the import substitution industrialization strategy and the deployment of non-traditional adjustment plans during the economic development and reform process. This essay examines the essential significance of structuralism in Brazil's economic progress and reforms following the debt crisis from the perspective of the country's shifting position. This research could deepen the understanding of neo-structuralism and its influence for scholars. Searching from Google Scholar, this paper did a systematic review of existing studies and found that New structuralism could serve as a major guide for emerging economies.
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