Despite growing interest in studying ecological issues from a heterodox perspective, the field of ecological macroeconomics has been almost singularly focused on energy supply and demand dynamics of closed, developed economies. The majority of the negative effects of climate change and environmental degradation, however, will be felt in developing economies, facing renewable resource destruction in an open setting. This raises several important questions as to the generalizability of sustainable growth paths found in previous models. Developing countries face numerous environmental and macroeconomic challenges that the (« developed ») global North does not. Raising living standards while also reducing inequality and environmental impacts present a monumental obstacle for developing countries, whose productive structures are centered on exploiting domestic raw materials and energy resources. Structural change from resource-dependent employment to high-productivity manufacturing and services often comes at great cost to socio-ecological well-being. The threat of climate change brings with it additional pressure, as developing countries, and resource-based sectors in general, are projected to be most affected by more variable temperatures and extreme weather. This dissertation presents a comparative overview of the processes of development and underdevelopment as understood by both ecological economics and Post-Keynesian, structuralist economics. This work bridges a gap between theories of structural change and ecological economics, raising new questions related to the costs/benefits of adopting « efficient » technologies, implementing structural change reforms, and opening to trade with other countries.