“…Policymaking is not necessarily a functional process of formulating solutions for meeting domestic needs but a result of policy learning (Dolowitz & Marsh, 2000;Jarvis & He, 2020;Hall, 1993). Ebbs and flows of the trends of economic policies, be it the Keynesian welfare state, state-centered developmentalism, or neoliberalism, can be contingent on the policy actors (Hu et al, 2020). Nevertheless, especially in a catch-up economy, rational policy actors, who calculate not only the technical efficiency of a policy instrument but also political effectiveness, may utilize these trends in "advanced economies" to advocate their policy alternative (Chindarkar et al, 2017;Evans, 2017).…”