Location of Repository

Economic crisis and the construction of a neo-liberal regulatory regime in Korea

By Iain Pirie

Abstract

A consistent theme of the literature on the ontology of the 1997 South Korean crisis is the key role played by regulatory failures and the growing weakness of the state. This paper seeks to briefly highlight both the insights and the limitations of this approach to understanding the crisis. Having done so, we shall set out the argument that the crisis created an opportunity for reformist Korean élites to advance their longstanding, but previously frustrated, project to create a comprehensive unambiguously neo-liberal regulatory regime. This paper will also seek to highlight the implications of our reading of the development of the Korean political economy for broader debates on economic liberalisation, crisis and the future of the developmental state

Topics: JC, DS
Publisher: Maney Publishing
Year: 2006
OAI identifier: oai:wrap.warwick.ac.uk:1291

Suggested articles

Preview

Citations

  1. (2002a) World Development Report 2002: Building Institutions for Markets (Oxford: doi
  2. (2005a) Better by Design: Korea’s neoliberal economy, doi
  3. (2002). After dirigisme: globalization, democratization and the still faulted state and its social discontents in Korea, doi
  4. (2003). Agency problems and performance of Korean companies during the Asian financial crisis: chaebol vs. non-chaebol firms, doi
  5. (1997). Alliance Capitalism and Global doi
  6. (1989). Asia’s Next Giant: South Korea and Late Industrialisation (Oxford: doi
  7. (2003). Conclusion: Wither the Chaebol, in doi
  8. (2000). Controlled the controlled shareholders: conduct, structure, and market,
  9. (2004). Corporate governance and firm value: evidence from the Korean financial crisis, doi
  10. (2002). Crony Capitalism: Corruption and Development in South Korea and the Philippines (Cambridge: doi
  11. (1999). Dark Victory: The United States and Global Poverty, 2nd edn (London: doi
  12. (2000). Developmental states in transition: adapting, dismantling, innovating, not ‘normalizing’, doi
  13. (2003). Economic Crisis and Corporate Restructuring in Korea (Cambridge: doi
  14. (1996). Economic liberalisation and reform in South Korea in the 1990s: a ‘coming of age’ or a case of ‘graduation blues’?, doi
  15. (1997). Economics and Evolution
  16. (1999). Explaining the change of state interest in financial liberalisation,
  17. (1998). Fashioning a new model out of the Korean crisis: the rebuilding of institutional capacities, doi
  18. (2002). Financial crisis and credit crunch in Korea: evidence from firms-level data, doi
  19. (2003). Financial Crisis and Transformation of Korean Business Groups: The Rise and Fall of Chaebols (Cambridge: doi
  20. (2004). Financial restructuring, in D-K. Chung and B. Eichengreen (eds), The Korean Economy Beyond the Crisis (Cheltenham: Edward Elgar), doi
  21. (2005). Financial statement analysis doi
  22. (2004). Financial statement analysis 2003. (http://www.bok.or.kr/contents _adim/eng/home/public/public07/info/The OutlineandThe ResultsoftheFSA2003.pdf).
  23. (2003). Global Shift: Reshaping the Global Economic Map doi
  24. (1998). Global Shift: Transforming the World Economy, 3rd edn (London,
  25. (2000). Globalisation and workers in South Korea: economic reform and labor,
  26. (2002). Globalising International Property Rights: The TRIPs Agreement doi
  27. (1999). Globalization and Governance doi
  28. (2003). Globalization and Its Discontents doi
  29. (2003). Guiding globalisation in East Asia: new roles for old developmental states, doi
  30. (2003). Ideational inconsistency and institutional incapacity: Why financial liberalisation in South Korea went horribly wrong, doi
  31. (1987). Innovation Patterns in Crisis and Prosperity: Schumpeter’s Long Cycle Reconsidered doi
  32. (1998). Interpreting the Korean crisis: financial liberalisation, industrial policy and corporate governance, doi
  33. (2003). Korea: Financial Sector Assessment, doi
  34. (2002). Korea: selected issues, IMF Country Issues,
  35. (2001). Korean Economic Reform: Before and Since the
  36. (1997). Korean Enterprise: The Quest for Globalization (Boston:
  37. (1998). Mad Money (Manchester: doi
  38. (1996). Mass-Participatory Economy: Korea’s Road to World Economic Power (Revised and Updated Edition) (London:
  39. (2004). Ministry of Finance and Economy (Republic of Korean)
  40. (2002). Nascent stages of corporate goverance in an emerging market: regulatory change, regulatory change, shareholder activism and Samsung Electronics, doi
  41. (1999). New Multinational Enterprises from Korea and Taiwan doi
  42. (1999). OECD (Organisation for Economic Co-operation and Development) doi
  43. OECD (Organisation for Economic Co-operation and Development) (2001b) Economic Survey of Korea (Paris: OECD).P u b l i s h e d b y M a n e y P u b l i s h i n g ( c ) T h e E d i t o r s a n d W . S . M a n e y & S o n L i m i t e d doi
  44. (1991). Race to the Swift: State and Finance in Korean Industrialization (New York: doi
  45. (2003). Reform of corporate governance, in doi
  46. (2003). Reforming Korea’s Industrial Conglomerates (Washington:
  47. (2001). Republic of Korea,
  48. (2003). Republic of Korea: doi
  49. (1998). Republic of Korea: Selected Issues,
  50. (1991). Rival States, Rival Firms (Cambridge: doi
  51. (1994). States and Markets, 2nd edn
  52. (2000). Supervisory Commission
  53. (2000). Supervisory Service doi
  54. (1988). Thatcherism: A Tale of Two Nations doi
  55. (2000). The dilemma of market liberalization: the financial crisis and the transformation of capitalism, in
  56. (2005). The effects of financial liberalization on firms’ investment in Korea, doi
  57. (2000). The failure of the weak state in economic liberalization: liberalization, democratization and the financial crisis in South Korea, doi
  58. (1999). The financial crisis – A strategy of financial sector reform’, Working Paper, doi
  59. (1992). The global accumulation of capital and the periodisation of the capitalist state form, in
  60. (1993). The Globalization doi
  61. (2003). The government, the chaebol and financial institutions before the economic crisis, in doi
  62. (2001). The Korean corporate sector: crisis and recovery’,
  63. (2005). The New Korean State. doi
  64. (2000). The Politics of Economic Reform in South Korea: A Fragile Miracle doi
  65. (1993). The Recomposition of the British State During the 1980s doi
  66. (2004). Was the IMF’s Imposition of Regime Change
  67. (1997). World Development Report 1997: The State in a Changing World (Oxford: doi

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.