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Hegemonic ideas versus institutional ethos in Korea's neoliberal reform during the late 1990s economic crisis

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  • Hegemonic ideas versus institutional ethos in Korea's neoliberal reform during the late 1990s economic crisis
  • Kwon, Oh-Jung
  • Rutgers, The State University of New Jersey


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Title Hegemonic ideas versus institutional ethos in Korea's neoliberal reform during the late 1990s economic crisis
Similar Titles
Material Type Theses
Author(English)

Kwon, Oh-Jung

Publisher

[New Brunswick, U.S.] : Rutgers, The State University of New Jersey

Date 2013-10
Pages 167
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
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Abstract

This study uses the historical case of the late 1990s economic crisis in Korea to explore the encounter between exogenous neoliberal doctrines and the endogenous "developmental" policy ethos. It investigates to what extent the neoliberal policy frame was institutionalized to change the developmental regulatory structure. The discourse of "moral hazard" mediated the acceptance of the harsh International Monetary Fund programs in such a way that neoliberal norms were espoused as the legitimate tools to cure "inefficient" developmental policy arrangements. The far-reaching restructuring aimed to make the system conform to the Western market economy model and was guided by major reform agendas such as small government, fiscal austerity, bank autonomy, strict capital adequacy, corporate transparency, capital liberalization, and labor flexibility. Tracing the implementation of these agendas revealed two primary contexts for incomplete neoliberal transition under the developmental institutional legacies. (The rest omitted)