Macroeconomic ingredients for a growth model analysis for peripheral economies: a post-Keynesian-structuralist approach

Abstract

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Growth regimes, dominant social blocs and growth strategies: towards varieties of export-led growth regimes and strategies in Turkey and Poland

“…Overall the cases presented emphasize the need to differentiate common growth regime categories. On the one hand, seemingly similar growth regimes can differ significantly in terms of their economic implications, such as long-term growth, sustainability and cyclicality (Jungmann 2023;Kohler/Stockhammer 2022;Stockhammer 2022b), but as the Polish and Turkish case indicate, also in terms of their DSB and growth strategy. In addition to refining regime distinctions based on growth drivers, there may also be a need for more fundamental changes to the different role of demand components in standard regime taxonomies.…”

“…As for macroeconomic policy regimes, different growth drivers are conducive to different growth regimes. Furthermore, growth regimes, seemingly similar in terms of their growth contributions and financial balances, may differ regarding their growth drivers and macroeconomic policies and hence in terms of the regime's sustainability and cyclicality (Jungmann 2023;Kohler/Stockhammer 2022;Stockhammer 2022b). In this context, which social groups, sectors and industries benefit from a growth regime depends on the respective growth drivers and macroeconomic policies of that regime.…”

Growth models, growth strategies, and power blocs in Turkey and Egypt in the twenty-first century

“…In recent years, many scholars have investigated the challenge to global governance from countries like Brazil, Russia, India, China and South Africa (BRICS), while various historical materialist and critical institutionalist studies have problematized the changing growth patterns and dynamics in emerging economies (Nölke/Claar 2013;Schneider 2013;Schedelik et al 2021;Stockhammer 2022a). This growing comparative capitalisms research agenda, which can be seen as part of the third wave, attempts to overcome the earlier preoccupation with Global North countries and presents a more dynamic analysis of growth strategies and accompanying regulatory frameworks.…”

Essays on the dynamics of the Brazilian distributive conflict (2000-2020)

“…One fundamental critique, for example, referred to the misemployment of the concepts of growth and demand regimes originated from Neo-Kaleckian models (Bhaduri & Marglin, 1990). According to post-Keynesians, Baccaro and Pontusson (2016) ended up mixing structural parameters concerning the effects of income distribution on demand and growth (the wage-and profit-led regimes) with the drivers of demand growth that are related to economic policy and condition the distributional dynamics in a period (Stockhammer & Kohler, 2022;Stockhammer, 2022;2022a;Hein et al, 2020). By affirming that contemporary alternatives to the "traditional Fordist model of wageled growth" in developed economies have been mainly represented by the export-led and the debt-financed consumption models, Baccaro and Pontusson (2016, p. 186) suggest that exports and household debt are the dominant demand drivers of economies that have been structurally profit-led since growth was detached from real wage gains.…”

“…Hein & Jungmann, 2021;Mertens et al, 2021;Stockhammer, 2022a;Jungmann, 2021). 52 In the end, post-Keynesian formulations on peripheral economies contribute by adding a third pillar to the hard core of the GMP research programme (in addition to the role of demand and the socio-political determinants): growth models for developed and developing countries are structurally differentiated by particularities of the peripheral integration to the international economy (Nolke et al, 2020).…”