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Bridging international political economy and public policy and administration research on central banking
Policy and Society ( IF 5.7 ) Pub Date : 2021-09-08 , DOI: 10.1080/14494035.2021.1975215
Mustafa Yagci 1 , Caner Bakir 2
Affiliation  

Central banking as an avenue of research has been of interest to scholars from International Political Economy (IPE) and Public Policy and Administration (PPA) disciplines. Nevertheless, there is very little dialogue between these two perspectives to bridge macro, meso, micro-level analyses and examine the reciprocal relationship between the global and domestic political economy context and monetary policy conduct. This article investigates the Turkish experience to bridge IPE and PPA scholarship on central banking in emerging economies. In doing so, we adopt an analytic eclectic approach combining multiple structural, institutional, and agential causal explanations with particular reference to the Structure, Institution, and Agency (SIA) theoretical framework. This is because analytic eclecticism complements, speaks to, and selectively incorporates theoretical approaches such as the New Independence Approach (NIA) of IPE and institutional and ideational PPA approaches. Drawing on the empirical context of the historical evolution of the Turkish political economy, we explore domestic and international interactions among micro, meso, and macro levels that shape central banking behavior. Our analysis also reveals how global dynamics are translated into domestic policy choices and how particular ideas influence the policymaking process. The analysis underscores the constraining and enabling influence of international dynamics, politics of ideas on emerging economy central banking, and the essential role individual and organizational agency play in the policymaking process.

中文翻译:

将国际政治经济学与中央银行的公共政策和行政研究联系起来

中央银行作为一种研究途径,引起了国际政治经济学 (IPE) 和公共政策与管理 (PPA) 学科的学者的兴趣。然而,这两种观点之间几乎没有对话来弥合宏观、中观、微观层面的分析,并检验全球和国内政治经济环境与货币政策行为之间的相互关系。本文调查了土耳其在新兴经济体中央银行方面弥合 IPE 和 PPA 奖学金的经验。在此过程中,我们采用了一种分析折衷方法,结合了多种结构、制度和代理因果解释,并特别参考了结构、制度和代理 (SIA) 理论框架。这是因为分析折衷主义补充,说话,并有选择地结合理论方法,例如 IPE 的新独立方法 (NIA) 和制度和理念 PPA 方法。借鉴土耳其政治经济历史演变的经验背景,我们探讨了塑造中央银行行为的微观、中观和宏观层面之间的国内和国际互动。我们的分析还揭示了全球动态如何转化为国内政策选择,以及特定想法如何影响政策制定过程。该分析强调了国际动态、思想政治对新兴经济体中央银行业务的约束和有利影响,以及个人和组织机构在决策过程中发挥的重要作用。
更新日期:2021-09-08
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