The Complementary Roots of Growth and Development Comparative Analys
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 substa
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Taner Akan
The Complementary Roots of Growth and Development
Taner Akan
The Complementary Roots of Growth and Development Comparative Analysis of the United States, South Korea, and Turkey
Taner Akan Department of Economics, Istanbul University Istanbul, Turkey Department of International Development King’s College London, London, UK
ISBN 978-3-319-68931-9 ISBN 978-3-319-68932-6 (eBook) https://doi.org/10.1007/978-3-319-68932-6 Library of Congress Control Number: 2017955940 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover pattern © Melisa Hasan Printed on acid-free paper This Palgrave Pivot imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
About the Book
The common institutional roots of success and failure in economic growth and development (G&D) lie in the systemic governance and fragmentation of institutional complementarities, respectively, but not in the unilateral adaptation of market-led or state-led models. This book utilizes case countries such as the United States, South Korea, and Turkey—an advanced and developed, a newly developed, and a developing country, respectively—to adjudge how G&D succeeded or failed under market- led or state-led models. Akan provides a simple framework for understanding two points which 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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Contents
1 Systemic Governance and the Fragmentation of Institutional Complementarities 1 2 Rise and Fall of the Market-Led Model:
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