Research Article

VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY

Volume: 24 Number: 1 March 21, 2026
TR EN

VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY

Abstract

There has been much criticism of the literature related to the main types of varieties of capitalism. These criticisms have caused factors such as state intervention and business-state relation to be taken into account when analyzing the literature. In this context, in addition to Liberal and Coordinated Market Economies, there has also been discussion of Dependent, Mixed, and Hierarchical Market Economies. The aim of this article was to develop the discussions on the varieties of capitalism and to determine the place of Turkey, the position of which has been defined as uncertain in the varieties of capitalism classification. The results obtained from this analysis show that Turkey has the characteristics of a Hierarchical Market Economy. It is possible to observe the characteristics of Hierarchical Market Economy in family businesses, industrial relations, the role of the state, education and the impact of multinational companies in Turkey.

Keywords

Supporting Institution

The author declared that this study has received no financial support.

Ethical Statement

The author has no conflict of interest to declare.

References

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  6. Carney, R. W. (2016) "Varieties of Hierarchical Capitalism: Family and State Market Economies in East Asia", The Pacific Review, 29(2): 137–163.
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Details

Primary Language

English

Subjects

Policy and Administration (Other)

Journal Section

Research Article

Publication Date

March 21, 2026

Submission Date

January 27, 2025

Acceptance Date

December 11, 2025

Published in Issue

Year 2026 Volume: 24 Number: 1

APA
Bakır, H. (2026). VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY. Journal of Management and Economics Research, 24(1), 22-45. https://doi.org/10.11611/yead.1627834
AMA
1.Bakır H. VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY. Journal of Management and Economics Research. 2026;24(1):22-45. doi:10.11611/yead.1627834
Chicago
Bakır, Hasan. 2026. “VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY”. Journal of Management and Economics Research 24 (1): 22-45. https://doi.org/10.11611/yead.1627834.
EndNote
Bakır H (March 1, 2026) VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY. Journal of Management and Economics Research 24 1 22–45.
IEEE
[1]H. Bakır, “VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY”, Journal of Management and Economics Research, vol. 24, no. 1, pp. 22–45, Mar. 2026, doi: 10.11611/yead.1627834.
ISNAD
Bakır, Hasan. “VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY”. Journal of Management and Economics Research 24/1 (March 1, 2026): 22-45. https://doi.org/10.11611/yead.1627834.
JAMA
1.Bakır H. VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY. Journal of Management and Economics Research. 2026;24:22–45.
MLA
Bakır, Hasan. “VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY”. Journal of Management and Economics Research, vol. 24, no. 1, Mar. 2026, pp. 22-45, doi:10.11611/yead.1627834.
Vancouver
1.Hasan Bakır. VARIETIES OF CAPITALISM IN DEVELOPING ECONOMIES: THE CASE OF TURKEY AS A HIERARCHICAL MARKET ECONOMY. Journal of Management and Economics Research. 2026 Mar. 1;24(1):22-45. doi:10.11611/yead.1627834