콘텐츠 바로가기
로그인
컨텐츠
  • HOME
  • SEARCH
PLUS Text Size MINUS RESET
FACEBOOK TWITTER Linked In

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Economic Conditions
Government and Law Governance

Print

Economic crisis in Korea and the degraded developmental state

Related Document
Frame of Image
  • Economic crisis in Korea and the degraded developmental state
  • Hundt,David
  • Taylor&Francis


link
Title Economic crisis in Korea and the degraded developmental state
Similar Titles
Material Type Articles
Author(English)

Hundt,David

Publisher

Melbourne,Australia : Taylor&Francis

Date 2014
Journal Title; Vol./Issue Australian Journal of International Affairs:vol.68(no.5)
Pages 16
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Government and Law < Governance
Holding Deakin University
License

Abstract

This article analyses the Korean developmental state since the late 1990s, and argues that the state has continued to play a weighty role in the economy. The state guided industrial and financial restructuring after the Asian economic crisis, and intervened to stimulate the economy during the 2008 global financial crisis. Instead, state elites have displayed a distinctive form of economic leadership that is largely consistent with the developmental state. Rather than focusing predominantly on performance-related indicators of state strength such as growth rates, we analyse the deeper aspects of the developmental state, specifically its internal functions and its collaboration with business. The article brings politics back into analysis of the developmental state by questioning the assumption that strong economic performance is necessary for the maintenance of close ties between the state and chaebol. Instead, it argues that economic performance is better understood as a predictor of patterns of conflict and cooperation. By doing so, the article explains why long-standing ties between the state and big business have endured two significant economic crises, even if the performance of the developmental state has been less impressive than in earlier decades