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  • © 2018

The Complementary Roots of Growth and Development

Comparative Analysis of the United States, South Korea, and Turkey

Authors:

  1. Taner Akan

    1. Department of Economics, Istanbul University, Istanbul, Turkey

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  • Systemic governance and institutional diffusion are explained on the basis of ‘institutional complementarities'
  • The USA case illustrates how systemic governance of a ‘market-led model’ first succeeded but then evolved into an an institutional trap, between efficiency and inequity, as a result of an enduring process of institutional diffusion
  • The South Korean case illustrates how systemic governance of a ‘state-led model’ first succeeded and then evolved into institutional diffusion
  • The Turkish case illustrates how the lack of an established systemic governance regime and the existence of enduring institutional diffusion drove the country into a long-run institutional drift between ‘state-led’ and ‘market-led’ routes and finally caused a system-wide institutional trap

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Table of contents (4 chapters)

  1. Front Matter

    Pages i-xix
    PDF

  6. Back Matter

    Pages 169-175
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About this book

The common roots of success and failure in economic growth and development lie in the systemic governance and fragmentation of institutional complementarities, respectively, but not in the unilateral adaptation of market-led or state-led models. To substantiate this argument, Akan utilizes case countries from the United States, South Korea, and Turkey—an advanced developed, a recently developed, and a developing country. Akan provides a simple framework for understanding two points that go beyond ideological obsession. The first is how a model of G&D works and evolves; with its economic, financial, industrial, and political dynamics intertwining. The second is why a market-led or state-led model succeeds and fails in both developed and developing countries.

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Keywords

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Authors and Affiliations

  • Department of Economics, Istanbul University, Istanbul, Turkey

    Taner Akan

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About the author

Taner Akan is Associate Professor of Political Economy at Istanbul University, Turkey; and Visiting Fellow, King’s College London, UK. His research interests include institutional theory, political economy and economic governance.



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Buy it now

eBook USD 44.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book USD 59.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

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