Browsing by Author "Coban, M. Kerem"

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Citation Count: 0
Navigating Financial Cycles: Economic Growth, Bureaucratic Autonomy, and Regulatory Governance in Emerging Markets
(Wiley, 2024) Coban, M. Kerem; Apaydin, Fulya
Political decisions over economic growth policies influence the degree of bureaucratic autonomy and regulatory governance dynamics. Yet, our understanding of these processes in the Global South is somewhat limited. The article studies the post-Global Financial Crisis period and relies on elite interviews and secondary sources from Turkey. It problematizes how an economic growth model dependent on foreign capital inflows, which are contingent on global financial cycles, influences the trajectory of bureaucratic autonomy. Specifically, we argue that dependence on foreign capital flows for economic growth creates an unstable macroeconomic policy environment: while the expansionary episode of the global financial cycle masks conflicts between the incumbent and bureaucracy, the contractionary episode threatens the political survival of the incumbent. In the case of Turkey, this has incentivized the ruling coalition to resort to executive aggrandizement to control monetary policy and banking regulation, which resulted in a dramatic decay of the autonomy of the regulatory agencies since 2013.
Citation Count: 2
The Political Economic Sources of Policy Non-Design, Policy Accumulation, and Decay in Policy Capacity
(Sage Publications Inc, 2023) Coban, M. Kerem
This article problematizes the political economic drivers of policy (non-)design, instrument choice, and how prolonged non-design could trigger policy accumulation with serious implications for policy capacity. Focusing on the currency crisis-induced economic crisis in Turkey and relying on elite interviews and secondary resources, it argues that the design space, which is defined by the interactions between the credit-led growth model and the growth regime that prioritizes loose monetary and bank regulatory policies for higher economic growth rates, led to haphazard crisis response. Prolonged non-design in response to the crisis triggered policy accumulation and decay in systemic and organizational policy capacity.
Citation Count: 1
Rethinking de facto autonomy? A multi-policy area approach and the regulatory policy processPalabras Clave(sic)(sic)(sic)
(Wiley, 2022) Coban, M. Kerem
We examine de facto autonomy across regulatory agencies and policy sectors. Yet not much is known whether, how and why de facto autonomy could vary across policy areas within the same policy sector. This article demonstrates the existence of such variation and suggests that this variation depends on the interplay between stakeholders' diverging (or overlapping) policy preferences, deficient (or superior) organizational policy capacity, and institutional arrangements leading to enabled (or constrained) de facto autonomy. Relying on elite interviews and secondary resources, this study builds on an illustrative study on bank regulation in Turkey in the post-GFC period and presents a nuanced understanding of de facto autonomy: a multi-policy area approach to de facto autonomy that allows us to examine variation in de facto autonomy across policy areas, the determinants of the variation, and whether de facto autonomy is constrained or enabled, which structures the regulatory policy process.