Growth Engines of the South? South Africa’s, Brazil’s and Turkey’s market constellations in comparison
AbstractThe world is experiencing its worst recession in 80 years. What started as US sub-prime financial turmoil has developed into the first global recession since the infamous ‘Great Depression’ of the early 1930s. However gloomy the perspectives for the very short term are, there will be a recovery eventually. South Africa, Brazil and Turkey (SABT) are among those countries that may be expected as emerging market economies (EME) not only to continue to converge towards per-capita income levels of highly developed nations but also to be the best candidates – next to China and India – of serving as the locomotives of world GDP- and trade growth after the depression. Of course, whether SABT are not merely potentially in a position to create a brighter future for their people and the world economy but can transform such potentials into reality, depends on economic governance pursued by governments and collective actors in these countries. Therefore, it appears interesting to inquire into the macroeconomic governance structures of SABT in order to assess their capabilities for enhancing growth and employment and to converge to the OECD average in the medium to long run.
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Bibliographic InfoPaper provided by Izmir University of Economics in its series Working Papers with number 0909.
Length: 37 pages
Date of creation: Dec 2009
Date of revision:
Market constellations; policy regimes; institutions; Post Keynesianism; comparative economic systems;
Other versions of this item:
- Duman, Alper & Heise, Arne, 2009. "Growth engines of the South? South Africa's, Brazil's and Turkey's market constellations in comparison," Working Papers on Economic Governance 33, University of Hamburg, Department of Socioeconomics.
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
- P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-16 (All new papers)
- NEP-ARA-2010-01-16 (MENA - Middle East & North Africa)
- NEP-FDG-2010-01-16 (Financial Development & Growth)
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