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Growth engines of the South? South Africa's, Brazil's and Turkey's market constellations in comparison

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  • Duman, Alper
  • Heise, Arne

Abstract

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.

Suggested Citation

  • Duman, Alper & Heise, Arne, 2009. "Growth engines of the South? South Africa's, Brazil's and Turkey's market constellations in comparison," Working Papers on Economic Governance 33, University of Hamburg, Department of Socioeconomics.
    • Handle: RePEc:zbw:uhhafs:33
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    References listed on IDEAS

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    1. World Bank, 2007. "World Development Indicators 2007," World Bank Publications - Books, The World Bank Group, number 8150.
    2. World Bank, 2005. "Turkey - Joint Poverty Assessment Report : Volume 1. Main Report," World Bank Publications - Reports 8308, The World Bank Group.
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    Cited by:

    1. M. Vetrivel SEZHIAN & C. MURALIDHARAN & T. NAMBIRAJAN & S.G. DESHMUKH, 2011. "Developing A Performance Importance Matrix For A Public Sector Bus Transport Company: A Case Study," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 6(3), pages 5-14, August.

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    More about this item

    Keywords

    market constellations; policy regimes; institutions; Post Keynesianism; comparative economic systems;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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