The Politics Of Economic Reform In South Korea

This essay discusses the politics of economic reform in South Korea. The author argues that the East Asian path through these transitions has been the smoothest, with the economic and political practices of authoritarian industrialization being dismantled gradually. The author also examines the origins and limitations of this transition in the light of the South Korean experience and addresses key issues such as the role of the state in promoting economic development, the changing relationship between state, business and labour, the problems experienced during the transition from developmental state to advanced economy, and similarities between Korea and extant models of advanced capitalism. This comprehensive and authoritative account of the development of the Korean economy combines a historical approach with a substantial section on the new economy.

Focusing on Korea, this work explores the reasons why this state has experienced gradual economic reform while other authoritarian regimes have been swept away by the dual revolution of democratization and economic liberalization. Tat Yan Kong argues that the East Asian path through these transitions has been the smoothest, with the economic and political practices of authoritarian industrialization being dismantled gradually.Thi s book examines the origins and limitations of this transition in the light of the South Korean experience and addresses key issues such as: the role of the state in promoting economic development; the changing relationship between state, business and labour; the problems experienced during the transition from developmental state to advanced economy; and similarities between Korea and extant models of advanced capitalism. This comprehensive and authoritative account of the development of the Korean economy combines a historical approach with a substantial section on the new economy. Its analysis of the recent transition and uniquely systematic treatment of labour issues are a significant contribution to scholarship on the politics of development.