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Actions, contexts, mechanisms and outcomes in macroprudential policy design and implementation

Actions, contexts, mechanisms and outcomes in macroprudential policy design and implementation Causal mechanisms have received significant attention within the social sciences, and policy design and implementation occupy a prominent place in public policymaking. However, one area that has not received much attention in this literature is the causal mechanisms that are able to link policy instruments with outcomes due to operating within the appropriate contexts. This article seeks to fill this gap in the literature. Drawing on realistic evaluation and comparative historical institutionalism, and an exploratory case study on macroprudential regulation in Turkey between June 2011 and September 2016, this article argues that the success of macroprudential instruments in securing of macrofinancial stability is most likely when they trigger causal mechanisms that operate within the appropriate contexts. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Public Policy and Administration SAGE

Actions, contexts, mechanisms and outcomes in macroprudential policy design and implementation

Public Policy and Administration , Volume 36 (2): 27 – Apr 1, 2021

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References (80)

Publisher
SAGE
Copyright
© The Author(s) 2019
ISSN
0952-0767
eISSN
1749-4192
DOI
10.1177/0952076719827057
Publisher site
See Article on Publisher Site

Abstract

Causal mechanisms have received significant attention within the social sciences, and policy design and implementation occupy a prominent place in public policymaking. However, one area that has not received much attention in this literature is the causal mechanisms that are able to link policy instruments with outcomes due to operating within the appropriate contexts. This article seeks to fill this gap in the literature. Drawing on realistic evaluation and comparative historical institutionalism, and an exploratory case study on macroprudential regulation in Turkey between June 2011 and September 2016, this article argues that the success of macroprudential instruments in securing of macrofinancial stability is most likely when they trigger causal mechanisms that operate within the appropriate contexts.

Journal

Public Policy and AdministrationSAGE

Published: Apr 1, 2021

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