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The long shadow of “Big-Push” partnership : Government and business groups in Korea’s economic development

Related Document
Frame of Image olitical economy approaches principal-agent, to to business groups. We then look at the dynamic implications of these We theories: the impact on, and response of, business groups as economic institutions develop and market transactions become increasingly viable; as the the gap between voting rights and cash-flow rights widens; and as the cash-flow power power balance between the government and business groups shifts. Business Business groups can play a positive role by reducing coordination failures in in the catch-up phase of economic development; however, their merits catch-up are likely to be outweighed by their demerits as the potential for corporate governance governance risks and rent-seeking problems grows. rent-
Concepts and Definitions
Corporate Corporate governance is the entire set of institutions, both inside and outside the firm, through which the objectives of the firm are set and executed and the performance of the firm is monitored monitored [Lim, Haggard, and Kim 2003]. Business Business groups typically consist of legally independent firms, operating in multiple (often unrelated) industries, which are bound together by persistent formal (e.g., equity) and informal (e.g., (e.g., family) ties [Khanna and Yafeh 2007]. [Khanna and Yafeh
Theoretical Model Efficiency Principal-Agent Political Economy Central Concepts
- Transaction
Analytical Focus Market Market Development and Extent Extent of the Firm Conflict Conflict of Interest among Stakeholders Stakehol


Full Text
Title The long shadow of “Big-Push” partnership
Similar Titles
Sub Title

Government and business groups in Korea’s economic development

Material Type Reports
Author(English)

Lim; Wonhyuk; Morck, Randall

Date 2011-10
Event

KDI 개원 40주년 기념 국제회의: 민주화와 세계화 시대 한국경제의 성과와 과제

Pages 49
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Government and Law < General
Holding KDI; KDI School of Public Policy and Management