Details

Autor(en) / Beteiligte

• Güven, Ali Burak
• Özerdem, Alpaslan
• Whiting, Matthew

Titel

Political economy

Ist Teil von

• The Routledge Handbook of Turkish Politics, 2019, p.151-162

Auflage

1

Ort / Verlag

Routledge

Erscheinungsjahr

2019

Quelle

Alma/SFX Local Collection

Beschreibungen/Notizen

• This chapter highlights the interplay of policy regimes, external forces, institutions, and crises in the evolution of Turkish political economy. Following a brief overview of Turkey's state-led development strategy in the 1950s and 1960s and efforts at liberalisation in the 1980s and 1990s, the chapter focuses on the post-2002 AKP period. Initial successes during this period proved unsustainable and Turkey, once branded a leading emerging power, has over the past decade experienced intensified foreign capital-dependence, sluggish growth, institutional degeneration, and recently severe macroeconomic instability. With the AKP's authoritarian brand of neoliberal populism firmly entrenched, Turkey's long-term development prospects in an ever more challenging global economic context remain bleak. Political economists have often considered Turkey an important case to study various dimensions of capitalist development in the semi-periphery. This chapter highlights the interplay of policy regimes, external forces, institutions, and crises in the evolution of Turkish political economy. It analyses the post-2002 period under successive Adalet ve Kalkinma Partisi (AKP) governments, which was initially characterised by a reformist phase with promising outcomes but later degenerated into a combination of patronage politics, electoral populism, and low institutional quality typical in the global South. With the AKP's authoritarian brand of neoliberal populism firmly entrenched, Turkey's long-term development prospects in an ever more challenging global economic context remain bleak. State-led development had wide-ranging distributional, institutional, and international correlates. The key developmental constraint for Turkey is its foreign capital-dependent, private consumption-oriented growth pattern. The chapter provides a brief examination of Turkey's possible futures as an emerging power in a rapidly transforming global economy.