Bringing the State Back In: The Role of Technocratic Elites in Shaping Growth Trajectories

Camilla Locatelli

Technocratic elites have a pivotal role in shaping national macroeconomic policies. However, while existing growth model literature highlights how social coalitions influence economic policy, it struggles to explain how these interests translate into concrete fiscal policies, particularly given the increasing technical complexity of governance. As national policy decisions have become more complex and often restricted by supranational regulations (such as EU constraints), unelected technocratic elites have emerged as key actors, filtering societal and political interests, defining policy priorities, and shaping the boundaries of feasible economic strategies. Building on a doctoral project, this study argues that technocratic elites do not merely reflect existing economic interests but actively interpret and transform them, influencing governments’ choices in ways that are often overlooked in political economy scholarship. Their expertise and coordination mechanisms enable them to act as critical intermediaries between growth coalitions, political actors, and supranational institutions, particularly in times of crisis when rapid and technically complex decisions are required. By shedding light on these dynamics, this study contributes to debates on the politics of growth models, the role of the state in modern governance, and the autonomous role of bureaucratic expertise and technocratic elites in shaping countries’ economic trajectories.