File(s) under permanent embargo
Economic crisis in Korea and the degraded developmental state
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. In doing so, 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, this article analyses 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, economic performance is better understood as a predictor of patterns of conflict and cooperation. Longstanding ties between the state and big business have endured two significant economic crises, even if the performance of the developmental state has been degraded compared to earlier decades.
History
Journal
Australian Journal of International AffairsVolume
68Issue
5Pagination
499 - 514Publisher
Taylor & FrancisLocation
Abingdon, Eng.Publisher DOI
ISSN
1465-332XLanguage
engPublication classification
C1 Refereed article in a scholarly journalCopyright notice
2014, Australian Institute of International AffairsUsage metrics
Categories
No categories selectedKeywords
Licence
Exports
RefWorks
BibTeX
Ref. manager
Endnote
DataCite
NLM
DC