Hacking Economic Development

Yıl 2023, , 1 - 8, 30.12.2023

Saip Eren Yılmaz

https://doi.org/10.61192/indpol.1386592

Öz

This paper explores the potential use of growth hacking as a prescriptive tool in development economics from a system dynamics perspective. Growth hacking is a popular business method, and it stands as the umbrella term for attaining exponential business growth by creating and harnessing non-linear dynamics by forming virtuous cycles with creative ideas, field experimentation, and fast feedback loops. In this sense, growth hacking is inductive, non-linear, and empirical, contrasting the economic literature's deductive, linear, and abstract frameworks. Given this rationale, growth hacking can yield prescriptive and actionable insights that create virtuous cycles, avoid vicious cycles, and regulate linear economic development. Also, this perspective led to a novel definition of the quality of growth. As an extension of this definition, three development archetypes are stylized as “active,” “passive,” and “sustaining” based on reflexivity characteristics of the underlying economic subsystems.

Anahtar Kelimeler

Economic development, industrial policy, technology policy, venture capital, innovation

Kaynakça

• Al-Hathloul, L. (2022, March 1). Dictators in Egypt and Saudi Arabia love smart cities projects — Here’s why. Retrieved June 14, 2023, from https://www.accessnow.org/smart-cities-projects
• Alberto, A., & Tabellini, G. (1989). External debt, capital flight and political risk. Journal of International Economics, 27(3), p199-220. https://doi.org/10.1016/0022-1996(89)90052-4
• Andreas, H. (2014). Zero-interest Rate Policy and Unintended Consequences in Emerging Markets. The World Economy, 37(10), p1367-1387. https://doi.org/https://doi-org.ezproxy.bu.edu/10.1111/twec.12199
• Axe, D. (2022, January 29). How Turkey Became a Drone Superpower. National Interest. Retrieved June 12, 2023, from https://nationalinterest.org/blog/reboot/how-turkey-became-drone-superpower-199998
• Belsie, L. (2022, July 7). El Salvador’s Experiment with Bitcoin as Legal Tender. Retrieved June 15, 2022, from https://www.nber.org/digest/202207/el-salvadors-experiment-bitcoin-legal-tender
• Bower, J. L., & Christensen, C. M. (1995). Disruptive Technologies: Catching the Wave. Harvard Business Review, Vol. 73(Jan/Feb), p43-53. https://doi.org/https://hbr.org/1995/01/disruptive-technologies-catching-the-wave
• Callen, T. (2017). Gross Domestic Product: An Economy’s All. Finance & Development, 2017(5), 14-15. https://doi.org/10.5089/9781484320921.022
• E Selding, P. B. (2016, February 3). Luxembourg to invest in space-based asteroid mining. Retrieved August 23, 2022, from https://spacenews.com/luxembourg-to-invest-in-space-based-asteroid-mining/
• Estonia Government (2022, December 1). Estonia has the most startups per capita in Europe. Invest in Estonia. Retrieved June 12, 2023, from https://investinestonia.com/estonia-leads-europe-in-startups-unicorns-and-investments-per-capita/
• Gauthier, J. (n.d.). The Global Startup Ecosystem Report 2022. https://startupgenome.com/article/rankings-2022-top-100-emerging-ecosystems
• Gitlin, J. M. (2013, December 6). Calculating the economic impact of the Human Genome Project. Retrieved June 15, 2023, from https://www.genome.gov/27544383/calculating-the-economic-impact-of-the-human-genome-project Haigh, T. (2019). Hey Google, what's a moonshot?: How Silicon Valley mocks Apollo. Communications of the ACM, 62(1), p24-30. https://doi.org/https://doi-org.ezproxy.bu.edu/10.1145/3292519
• Jimoh, I., Loch, C., & Sengupta, K. (2022). How Megaprojects Are Damaging Nigeria and How to Fix It: A Practical Guide to Mastering Very Large Government Projects (1st ed., pp. 17-18). Springer Nature. https://doi.org/10.1007/978-3-030-96474-0
• John, A. (2021, May 11). 11 Tesla engineers who left Elon Musk's company to run startups driving the auto industry into an electric future. Retrieved June 15, 2023, from https://www.businessinsider.com/11-tesla-alumni-who-started-electric-mobility-startups-2021-11.
• Malsin, J., & Kivilcim, E. (2022, January 29). How Turkey Became A Global Player in Arms
• Manufacturing. Retrieved August 23, 2022, from https://www.wsj.com/story/how-turkey-became-a-global-player-in-arms-manufacturing-a1c361f0.
• McKinnon, R., & Liu, Z. (2013). Zero Interest Rates in the United States Provoke World Monetary Instability and Constrict the US Economy. Review of International Economics, 21(1), p49-56. https://doi.org/https://doi-org.ezproxy.bu.edu/10.1111/roie.
• Novokmet, F., Piketty, T., & Zucman, G. (2018). From Soviets to Oligarchs: Inequality and Property in Russia 1905-2016 (1st ed., p. p1). World Inequality Lab. https://doi.org/10.1007/s10888-018-9383-0
• OECD (2023, January 1). Definition of Gross Domestic Product (GDP). Retrieved June 14, 2023, from 10.1787/dc2f7aec-en
• Pisani, B. (2023, May 10). Apple versus the world: The iPhone maker is bigger than almost any stock market in the world. Retrieved June 14, 2023, from https://www.cnbc.com/2023/05/10/apple-vs-the-world-apples-bigger-than-entire-overseas-stock-markets-.html
• Porter, M. E. (1995). What Is Strategy? Harvard Business Review, 74(6), p61-78. https://doi.org/https://hbr.org/1996/11/what-is-strategy
• Prahalad, & Hamel, G. (1990). THE CORE COMPETENCE OF THE CORPORATION. Harvard Business Review, 68(3), 79–91.
• Romer, P. (2016, September 14). The Trouble With Macroeconomics [Commons Memorial Lecture of the Omicron Delta Epsilon Society]. Stern School of Business, New York University. https://paulromer.net/trouble-with-macroeconomics-update/WP-Trouble.pdf
• Vagadia, B. (2012). Outsourcing Within Industry Verticals (1st ed., p. 82). Springer Berlin, Heidelberg. https://doi.org/https://doi-org.ezproxy.bu.edu/10.1007/978-3-642-22209-2
• Van Est, R. (2022). Successful Public Policy in the Nordic Countries: Cases, Lessons, Challenges (1st ed., pp. p45-66). Oxford University Press. https://doi.org/10.1093/oso/9780192856296.003.0003
• Vihma, P. (2022, January 15). Estonia outranks most of the world in Global Cybersecurity Index. E-Estonia.com. Retrieved June 12, 2023, from https://e-estonia.com/estonia-outranks-most-of-the-world-in-global-cybersecurity-index/#:~:text=Estonia%20is%20highly%20ranked%20also,cybersecurity%20index%20average%20(42.71).