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Moving the center: Adapting the toolbox of growth model research to emerging capitalist economies

Author

Listed:
  • Mertens, Daniel
  • Nölke, Andreas
  • May, Christian
  • Schedelik, Michael
  • Ten Brink, Tobias
  • Gomes, Alexandre

Abstract

The growth model perspective has provided positive momentum for Comparative and International Political Economy. This article seeks to move beyond the existing geographical confines of this perspective to elaborate on its potential for enhancing our understanding of the trajectories of different emerging capitalist economies (ECEs), the center of global economic growth during the last decades. Using national accounts data, we calculate the relative contributions of demand components to GDP growth for nine large emerging economies in the period from 2001 to 2016. Departing from the prevalent juxtaposition of consumption-led and export-led growth models, we add an investment-led model within a variegated set of ECE accumulation strategies. Subsequently, we employ case vignettes from Brazil, China, India and Indonesia to highlight ECE specificities in (1) the effects of international interdependencies on growth models, (2) the political underpinnings of growth models through social blocs, and (3) the existence of structural productive heterogeneities leading to regional growth models in very large economies. We conclude that these macro-political and institutional specificities should serve as a point of departure for a more global research agenda on growth models.

Suggested Citation

  • Mertens, Daniel & Nölke, Andreas & May, Christian & Schedelik, Michael & Ten Brink, Tobias & Gomes, Alexandre, 2022. "Moving the center: Adapting the toolbox of growth model research to emerging capitalist economies," IPE Working Papers 188/2022, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    • Handle: RePEc:zbw:ipewps:1882022
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    Citations

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    Cited by:

    1. Schedelik, Michael & Nölke, Andreas & May, Christian & Gomes, Alexandre, 2022. "Dependency revisited: Commodities, commodity-related capital flows and growth models in emerging economies," IPE Working Papers 201/2022, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    2. Hein, Eckhard, 2022. "Varieties of demand and growth regimes: Post-Keynesian foundations," IPE Working Papers 196/2022, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    3. Engelbert Stockhammer & Andre Novas Otero, 2023. "A tale of housing cycles and fiscal policy, not competitiveness. Growth drivers in Southern Europe," New Political Economy, Taylor & Francis Journals, vol. 28(3), pages 483-505, May.
    4. Baccaro, Lucio & Hadziabdic, Sinisa, 2022. "Operationalizing growth models," MPIfG Discussion Paper 22/6, Max Planck Institute for the Study of Societies.

    More about this item

    Keywords

    Comparative capitalism; growth models; emerging capitalist economies; commodity super cycles; social blocs;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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