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Growth Engines of the South? South Africa’s, Brazil’s and Turkey’s market constellations in comparison

  • Alper Duman

    ()

    (Department of Economics, Izmir University of Economics)

  • Arne Heise

    ()

    (Department of Socioeconomics, Hamburg University
    Department of Economics, Izmir University of Economics)

The 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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File URL: http://eco.ieu.edu.tr/wp-content/wp0909.pdf
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Paper provided by Izmir University of Economics in its series Working Papers with number 0909.

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Length: 37 pages
Date of creation: Dec 2009
Date of revision:
Handle: RePEc:izm:wpaper:0909
Contact details of provider: Fax: (90) 232 279 2626
Web page: http://eco.ieu.edu.tr

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