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.
Table of Content
Chapter 1. Introduction.- Chapter 2. Systemic governance and the fragmentation of institutional complementarities.- Chapter 3. Rise and fall of the market-led model: the United States.- Chapter 4. Rise and fall of the state-led model: South Korea.- Chapter 5. Neither by state nor by market: the Turkish case.
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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