Navigating Financial Cycles: Economic Growth, Bureaucratic Autonomy, and Regulatory Governance in Emerging Markets

dc.authorid Apaydin, Fulya/0000-0001-7208-5857
dc.authorscopusid 57191520592
dc.authorscopusid 55156913300
dc.authorwosid Coban, M. Kerem/N-2641-2014
dc.contributor.author Coban, M. Kerem
dc.contributor.author Çoban, Mehmet Kerem
dc.contributor.author Apaydin, Fulya
dc.date.accessioned 2024-10-15T19:40:07Z
dc.date.available 2024-10-15T19:40:07Z
dc.date.issued 2024
dc.department Kadir Has University en_US
dc.department-temp [Coban, M. Kerem] Univ London, Sch Finance & Management, SOAS, London, England; [Coban, M. Kerem] Kadir Has Univ, Istanbul, Turkiye; [Apaydin, Fulya] Inst Barcelona Estudis Int, Barcelona, Spain en_US
dc.description Apaydin, Fulya/0000-0001-7208-5857 en_US
dc.description.abstract 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. en_US
dc.description.sponsorship Spanish Ministry of Science, Innovation and Universities [PGC2018-093719-A-I00] en_US
dc.description.sponsorship The earlier versions of this paper were presented at ECPR General Conference 2021 and the PSA General Conference in 2022. We would like to thank the participants and discussants on these occasions. We are grateful to Emmanuel Mathieu, Isik Ozel, and Kutsal Yesilkagit for their comments and feedback on the earlier versions. We are grateful to five anonymous referees whose critical and detailed suggestions have contributed to development of the article. Finally, we are thankful to David Levi-Faur for his guidance and patience since the initial submission. This study was supported by The Spanish Ministry of Science, Innovation and Universities, grant no. PGC2018-093719-A-I00. en_US
dc.description.woscitationindex Social Science Citation Index
dc.identifier.citationcount 0
dc.identifier.doi 10.1111/rego.12621
dc.identifier.issn 1748-5983
dc.identifier.issn 1748-5991
dc.identifier.scopus 2-s2.0-85201387151
dc.identifier.scopusquality Q1
dc.identifier.uri https://doi.org/10.1111/rego.12621
dc.identifier.uri https://hdl.handle.net/20.500.12469/6349
dc.identifier.wos WOS:001292661800001
dc.identifier.wosquality Q1
dc.language.iso en en_US
dc.publisher Wiley en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 2
dc.subject bureaucratic autonomy en_US
dc.subject credit-led growth model en_US
dc.subject growth coalitions en_US
dc.subject growth models en_US
dc.subject regulatory governance en_US
dc.title Navigating Financial Cycles: Economic Growth, Bureaucratic Autonomy, and Regulatory Governance in Emerging Markets en_US
dc.type Article en_US
dc.wos.citedbyCount 1
dspace.entity.type Publication
relation.isAuthorOfPublication 5f0429ea-7083-4fbb-9508-7e2dc86fc44b
relation.isAuthorOfPublication.latestForDiscovery 5f0429ea-7083-4fbb-9508-7e2dc86fc44b

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