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The Developmental State in the 21st Century: A Critical Analysis and a Suggested Way Forward

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  • Hüseyin Emrah Karaoğuz

Abstract

A vast literature has accumulated on the developmental state since its introduction to scholarship in the 1980s. Despite many criticisms, developmental state is still the most viable alternative to the orthodoxy in the eyes of many. This article analytically investigates the sources of pessimism and optimism in the building of 21st century developmental states. The study notes that although there are sound reasons to be pessimistic regarding the emergence of successful cases in the new millennium, there are also reasonable grounds to be optimistic. A complex dynamic within and between domestic and international spheres determines the outcome, but there is no reason to disregard prematurely or embrace indisputably the developmental state construct. Key words: Political economy, Developmental state, Economic development. JEL: O20, O57, P16.

Suggested Citation

  • Hüseyin Emrah Karaoğuz, 2022. "The Developmental State in the 21st Century: A Critical Analysis and a Suggested Way Forward," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 69(1), pages 55-72.
    • Handle: RePEc:voj:journl:v:69:y:2022:i:1:p:55-72:id:777
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    More about this item

    Keywords

    Political economy; Developmental state; Economic development;
    All these keywords.

    JEL classification:

    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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