Navigating financial cycles: economic growth, bureaucratic autonomy, and regulatory governance in emerging markets

Mostra el registre complet Registre parcial de l'ítem

• dc.contributor.author Coban, Mehmet Kerem
• dc.contributor.author Apaydin, Fulya
• dc.date.accessioned 2024-09-12T07:32:27Z
• dc.date.available 2024-09-12T07:32:27Z
• dc.date.issued 2025
• dc.description.abstract Political decisions over economic growth policies influence the degree of bureaucratic autonomy and regulatory governance dynamics. Yet, our understanding of these processes in the Global South is somewhat limited. The article studies the post-Global Financial Crisis period and relies on elite interviews and secondary sources from Turkey. It problematizes how an economic growth model dependent on foreign capital inflows, which are contingent on global financial cycles, influences the trajectory of bureaucratic autonomy. Specifically, we argue that dependence on foreign capital flows for economic growth creates an unstable macroeconomic policy environment: while the expansionary episode of the global financial cycle masks conflicts between the incumbent and bureaucracy, the contractionary episode threatens the political survival of the incumbent. In the case of Turkey, this has incentivized the ruling coalition to resort to executive aggrandizement to control monetary policy and banking regulation, which resulted in a dramatic decay of the autonomy of the regulatory agencies since 2013.
• dc.description.sponsorship This study was supported by The Spanish Ministry of Science, Innovation and Universities, grant no. PGC2018-093719-A-I00.
• dc.format.mimetype application/pdf
• dc.identifier.citation Coban MK, Apaydin F. Navigating financial cycles: economic growth, bureaucratic autonomy, and regulatory governance in emerging markets. Regul Gov. 2025 Jan;19(1):126-45. DOI: 10.1111/rego.12621
• dc.identifier.doi http://dx.doi.org/10.1111/rego.12621
• dc.identifier.issn 1748-5983
• dc.identifier.uri http://hdl.handle.net/10230/61065
• dc.language.iso eng
• dc.publisher Wiley
• dc.relation.ispartof Regulation & Governance. 2025 Jan;19(1):126-45
• dc.relation.projectID info:eu-repo/grantAgreement/ES/2PE/PGC2018-093719-A-I00
• dc.rights © 2024 The Author(s). Regulation & Governance published by John Wiley & Sons Australia, Ltd. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by/4.0/
• dc.subject.keyword Bureaucratic autonomy
• dc.subject.keyword Credit-led growth model
• dc.subject.keyword Growth coalitions
• dc.subject.keyword Growth models
• dc.subject.keyword Regulatory governance
• dc.title Navigating financial cycles: economic growth, bureaucratic autonomy, and regulatory governance in emerging markets
• dc.type info:eu-repo/semantics/article
• dc.type.version info:eu-repo/semantics/publishedVersion