The Political Economic Sources of Policy Non-design, Policy Accumulation, and Decay in Policy Capacity

This article problematizes the political economic drivers of policy (non-)design, instrument choice, and how prolonged non-design could trigger policy accumulation with serious implications for policy capacity. Focusing on the currency crisis-induced economic crisis in Turkey and relying on elite in...

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Bibliographic Details
Published in:Administration & society 2023-07, Vol.55 (6), p.1035-1065
Main Author: Coban, M.Kerem
Format: Article
Language:English
Subjects:
Accumulation
Banking
Currency instability
Economic crisis
Economic growth
Money
Organizational policy
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Summary:This article problematizes the political economic drivers of policy (non-)design, instrument choice, and how prolonged non-design could trigger policy accumulation with serious implications for policy capacity. Focusing on the currency crisis-induced economic crisis in Turkey and relying on elite interviews and secondary resources, it argues that the design space, which is defined by the interactions between the credit-led growth model and the growth regime that prioritizes loose monetary and bank regulatory policies for higher economic growth rates, led to haphazard crisis response. Prolonged non-design in response to the crisis triggered policy accumulation and decay in systemic and organizational policy capacity.
ISSN:0095-3997
1552-3039
DOI:10.1177/00953997231162522