scholarly journals Emerging and hybrid: the cases of turkish and brazilian market economies

2011 ◽  
Vol 2 (1) ◽  
pp. 65-95
Author(s):  
Isik Ozel
Keyword(s):  
Market Economy ◽  
Emerging Market ◽  
Varieties Of Capitalism ◽  
Hybrid Form ◽  
Global Crisis ◽  
Market Economies ◽  
Market Opening ◽  
Continuity And Change ◽  
New Institutions

This article examines the ways in which Turkish market economy has evolved into a hybrid form marked by illiberal characteristics. Exploring the dynamics of continuity and change in terms of institutional configurations, the article analyzes some of the major tensions between the old and new institutions in this emerging market economy which has attained remarkable levels of growth within the last decade even in the context of the ongoing global crisis. It draws comparisons between Turkey and Brazil regarding the emergence of hybrid varieties of capitalism in the transition from state-led development to market opening processes. The article asserts that compared to its Brazilian counterpart, the Turkish market economy is closer to patrimonial and statist market economies, rather than the liberal ones, and almost constantly goes through a vacillation between institutionalization and de-institutionalization. .

scholarly journals The integration between and common prosperity of government and market: China's experience of economic development

2020 ◽  
Vol 3 (2) ◽  
pp. 353-366
Author(s):  
Leming Hu
Keyword(s):  
Economic Development ◽  
Market Economy ◽  
Economic Transition ◽  
Emerging Market ◽  
Emerging Market Economies ◽  
Content Type ◽  
Market Economies ◽  
Economic Liberalism ◽  
Government And Market ◽  
The Relationship

PurposeThe relationship between government and market is the key to the economic development performance of market economy countries. Due to the limits such as the state/market dichotomy, the focus on static allocation efficiency and the ignorance of the diversity of the market economy and the relationship between government and market, economic liberalism and state interventionism can hardly position and explain the role and evolution of government and market in the real world accurately.Design/methodology/approachChina’s economic transition has always adhered to the reform direction of the socialist market economy and the development goal of a modern socialist country as well as the symbiosis and positive and progressive evolution of government and market, blazing a “third way” in handling the relationship between government and market.FindingsThe “China’s experience” shows that the key for emerging market economies to achieve good economic development performance lies in whether they can build a new relationship of the mutual integration between and common prosperity of government and market regarding target selection, production organisation, technological innovation, institutional change and regulatory adjustment.Originality/valueThe second part of this paper analyses the inherent defects of economic liberalism and state interventionism as well as the reasons why they can hardly be adopted as the theoretical guidance for emerging market economies to handle the relationship between government and market. The third part analyses how China has transcended the inherent thinking of liberalism and interventionism and shaped the new relationship between government and market through goal-oriented, active and progressive, two-way interactive exploration and practice to ensure the success of China's economic transition.

Progress Report on the Activities of the Independent Evaluation Office

Policy Papers ◽  
2010 ◽  
Vol 2010 (51) ◽  
Author(s):  
Keyword(s):  
Emerging Market ◽  
Progress Report ◽  
Emerging Market Economies ◽  
Global Crisis ◽  
Market Economies ◽  
Independent Evaluation ◽  
The Future ◽  
The Impact ◽  
The Imf

This paper examines the performance of emerging market economies (EMs) during the recent global crisis and draws policy conclusions. It considers how EMs were affected by the initial impact of the crisis, examines the extent to which they were able to undertake countercyclical policies to moderate the impact, and highlights factors that have influenced the pace and timing of their recovery. Finally, it considers policy challenges facing EMs as the crisis subsides. This paper sheds light on the role of reserves in crises, and provides contextual background for work on the future financing role of the IMF.

scholarly journals Expanding the framework of the varieties of capitalism: Turkey as a hierarchical market economy

2018 ◽  
Vol 9 (1) ◽  
pp. 42-51 ◽  
Author(s):  
Jiyan Kıran
Keyword(s):  
Market Economy ◽  
Latin American ◽  
Industrial Relations ◽  
Varieties Of Capitalism ◽  
Qualitative Comparison ◽  
Market Economies ◽  
Novel Approach ◽  
The Family ◽  
Characteristic Features ◽  
Core Features

This article both extends the debate on the varieties of capitalism theory beyond the existing literature to solve the ambiguous position of the variety of capitalism that is found in Turkey and brings a novel approach to the studies of the political economy of Turkey by adopting a firm-centred position using the varieties of capitalism framework. Based on a qualitative comparison with the dependent market economies (DMEs), mixed market economies (MMEs) and hierarchical market economies (HMEs), this article claims that Turkey is a hierarchical market economy with four characteristic features that are also found in Latin American economies. These core features are the dominance of the family-owned diversified business groups, state-regimented and weak industrial relations, low skills and the influence of MNCs.

scholarly journals The Varieties of Capitalism and Hybrid Success

2007 ◽  
Vol 40 (3) ◽  
pp. 307-332 ◽  
Author(s):  
John L. Campbell ◽  
Ove K. Pedersen
Keyword(s):  
Decision Making ◽  
Labor Markets ◽  
Market Economy ◽  
Vocational Training ◽  
Varieties Of Capitalism ◽  
Collective Learning ◽  
Market Forces ◽  
Hybrid Form ◽  
Best Fit ◽  
Better Than

The varieties of capitalism literature maintains that advanced capitalist countries whose institutions best fit either the liberal or coordinated market economy types will perform better than countries whose institutions are mixed. This is because hybrids are less likely to yield functionally beneficial institutional complementarities. The authors challenge this assertion. Denmark has performed as well as many purer cases during the 1990s. And Denmark has recently developed a more hybrid form than is generally recognized by (a) increasing the exposure of actors to market forces and (b) decentralizing collective learning and decision making. The institutional complementarities associated with such hybridization have contributed to its success; however, these complementarities are based on institutional heterogeneity rather than homogeneity. This is demonstrated by analyses of three cases: Danish labor markets, vocational training, and industrial policy. The implication of the authors’ argument is that the varieties of capitalism theory is logically flawed.

Harinder S. Kohli (ed.). Growth and Development in Emerging Market Economies: International Private Capital Flows, Financial Markets and Globalisation. New Delhi: Sage Publication 2008. 369 pages. Hardbound. Indian Rs 695.00.

2008 ◽  
Vol 47 (3) ◽  
pp. 304-305
Author(s):  
Henna Ahsan
Keyword(s):  
Capital Flows ◽  
Growth And Development ◽  
Global Economy ◽  
Emerging Market ◽  
Balance Sheet ◽  
Emerging Market Economies ◽  
New Delhi ◽  
Infrastructure Development ◽  
Market Economies ◽  
Emerging Market Countries

The book discusses the different experiences in Asia and Latin America, while covering the closely related areas under the purview of Emerging Market Economies (EMEs). The first chapter, “Introduction and Overview” has written by Harinder S. Kohli gives an excellent review of the existing literature on the subject. The book discusses six related topics which include nine papers presented at the Emerging Markets Forum Meeting held in Jakarta, Indonesia, in September 2006. The book highlights the main factors of growth and development in Emerging Market Economies (EMEs) now closely related with international capital flows, development of financial market, the countries’ ability to integrate successfully with the global economy through trade and investment and their ability to forge public-private partnerships including infrastructure development. Chapter 2, of the book is an article titled “Global Imbalances, Oil Revenues and Capital Flows to Emerging Market Countries” by Jack Boorman explains the favourable global environment and its impact on capital flows to Emerging Market Countries (EMCs). The EMCs got advantage from this benign global economic environment, such as high economic growth rate, increase in exports, better national balance sheet and increase in foreign exchange reserves, but due to high oil prices the situation has been changed.

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