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Growth regimes, dominant social blocs and growth strategies: towards varieties of export-led growth regimes and strategies in Turkey and Poland

Author

Listed:
  • Ãœmit Akcay

    (N/A)

  • Benjamin Jungmann

    (N/A)

Abstract

This paper aims to contribute to the literature on growth regimes by combining an operationalization of growth regimes based on growth contributions and sectoral financial balances with an analysis of dominant social blocs (DSBs). We propose the concept of a growth strategy to bridge the political and actor-oriented sphere with the macroeconomic sphere. We employ this framework to analyze the cases of Poland and Turkey. The study identifies a transition from a domestic demand-led regime to a weakly export-led regime in Poland, while Turkey experienced a shift from a domestic demand-led regime to a debt-led private demand regime and subsequently towards a weakly export-led regime, too. Both countries’ new DSBs pursue export-led growth strategies, but Poland’s strategy focuses on non-price competitiveness while Turkey relies on price competitiveness. We lay out the differences between the strategies in terms of policies and the capital fractions supporting them.

Suggested Citation

  • Ãœmit Akcay & Benjamin Jungmann, 2023. "Growth regimes, dominant social blocs and growth strategies: towards varieties of export-led growth regimes and strategies in Turkey and Poland," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 20(3), pages 539-560, December.
    • Handle: RePEc:elg:ejeepi:v:20:y:2023:i:3:p539-560
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    More about this item

    Keywords

    post-Keynesian macroeconomics; comparative political economy; growth regimes; growth strategies; Poland; Turkey;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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