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Rethinking alliance and the economy : American hegemony, path dependence, and the South Korean political economy

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  • Rethinking alliance and the economy
  • Moon, Chung-In; Rhyu, Sang-Young
  • Oxford University Press


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Title Rethinking alliance and the economy
Similar Titles
Sub Title

American hegemony, path dependence, and the South Korean political economy

Material Type Reports
Author(English)

Moon, Chung-In; Rhyu, Sang-Young

Publisher

[Oxford]:Oxford University Press

Date 2010-08
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < Political Systems
Government and Law < International Politics
Holding Oxford University Press

Abstract

The alliance with the United States has not only provided South Korea with a credible military deterrence against North Korea, but also helped normalize its economy through extensive military and economic assistance and assertive policy intervention for macroeconomic stabilization and export drive. South Korea was also one of major beneficiaries of the American-built liberal international economic order. No matter how strong the alliance tie would be, however, major external economic crises or subsequent critical junctures (e.g. the Asian financial crisis of 1997 and the global financial crisis of 2008) tempted South Korea to seek an alternative arrangement by attempting to depart from the USled economic and financial architecture. Nevertheless, such moves were fundamentally constrained because of the preference of continuing stability in international economic and financial institutions and its renewed emphasis on the alliance in face of North Korea’s nuclear threats. (The rest omitted)