The Complementary Roots of Growth and Development

Comparative Analysis of the United States, South Korea, and Turkey

  • Taner Akan

Table of contents

About this book


The common roots of success and failure in economic growth and development lie in the systemic governance and fragmentation of institutional complementarities, respectively, but not in the unilateral adaptation of market-led or state-led models. To substantiate this argument, Akan utilizes case countries from the United States, South Korea, and Turkey—an advanced developed, a recently developed, and a developing country. Akan provides a simple framework for understanding two points that go beyond ideological obsession. The first is how a model of G&D works and evolves; with its economic, financial, industrial, and political dynamics intertwining. The second is why a market-led or state-led model succeeds and fails in both developed and developing countries.


Growth and development in USA Growth and development in South Korea Growth and development in Turkey Corporate Governance Developmentalism Neoliberalism Austerity Industrial and Institutional Performance Comparative political economy Complementarities The institutional trap Economic development Growth and development (G&D) Market-led economics State-led economics Economic governance Institutional economics

Authors and affiliations

  • Taner Akan
    • 1
  1. 1.Department of EconomicsIstanbul UniversityIstanbulTurkey

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2018
  • Publisher Name Palgrave Pivot, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-68931-9
  • Online ISBN 978-3-319-68932-6
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