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Political economy of South Korea's transition, 1961-2008

Related Document
Frame of Image  Weingast, Political Economy of South Korea's Transition
2
Roadmap
• Summarize the framework • Turning point 1: Initiating economic growth • Turning point 2: Transition to democracy • Turning point 3: The financial crisis • Post-crisis reform • Conclusions
Mo and Weingast, Political Economy of South Korea's Transition
3
An Analytic Framework
• Draw on North, Wallis, and Weingast (2009). • Distinguishes different types of political economy systems called social orders. • The limited access order, or natural state:
– The political system manipulates the economic system – Creates rents to sustain order.
• In open access orders,
– Political, economic, and other forms of competition combine with institutions to sustain order.
Mo and Weingast, Political Economy of South Korea's Transition
4
The Logic of the Natural State
• The Natural State solves the problem of violence by creating rents. • Individuals and groups with access to violence have incentives to cooperate. • The political system uses rents and limited access to sustain order. • Differences among natural states: the nature of the dominant coalition .
Mo and Weingast, Political Economy of South Korea's Transition
5
Natural States (cont.)
• We call the limited access order system the Natural State. • All relationships are personal. • Examples.
– Medieval England, Nigeria, Kenya, Argentina, Mexico, Russia.
• Obvious problems for growth.
Mo and Weingast, Political Economy of South Korea's Transition
6
Open Access Orders


Full Text
Title Political economy of South Korea's transition, 1961-2008
Similar Titles
Material Type Proceeding
Author(English)

Mo,Jongryn; Weingast, R. Barry

Publisher

[Sejong],[South Korea] : Korea Development Institute

Date 2009-10
Event

KDI Conference

Pages 23
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy
Government and Law < Political Science
Holding Korea Development Institute
License