Neoliberal transformation through circulation of economic elites in times of critical junctures: the case of 1999–2001 economic crises in Turkey

Abstract

ABSTRACT While it is well-established that exogenous shocks can trigger policy changes, political elites have often been depicted as the initiators of this process. This paper adopts an elite sociology perspective, extending beyond the exclusive focus on political elites, to uncover the pathway through which critical junctures foster policy changes. It employs a case study of the economic crises in Turkey spanning from 1999 to 2001 as an illustrative example. During this period, a significant shift occurred, moving from traditional statist economic policies to widespread neoliberal reforms. Our analysis reveals that this policy shift was not solely influenced by external factors, but facilitated by an intricate process of elite circulation within the economic bureaucracy. This process, which began in the 1980s and gained momentum in the 2000s, coincided with an influx of bureaucratic elites aligned with neoliberal principles and played a crucial role in shaping the trajectory of policy changes.