EconPapers    
Economics at your fingertips  
 

Legitimate Social Purpose and South Korea’s Support for Entrepreneurial Finance Since the Asian Financial Crisis

Robyn Klingler-Vidra and Ramon Pacheco Pardo

New Political Economy, 2020, vol. 25, issue 3, 337-353

Abstract: There has been a marked rise in the breadth and depth of the South Korean state’s support of entrepreneurial finance since the Asian Financial Crisis. This article provides novel conceptual and empirically-grounded understanding of the phenomenon by answering two interconnected research questions: (1) does the government’s financial support of high-technology entrepreneurship in the Creative Economy Action Plan constitute continuity or change in the Korean state’s encouraging of entrepreneurial finance? and (2) what is motivating these efforts? Making use of interview data and policy document analysis, we argue that Creative Economy efforts represent continuity of entrepreneurial finance support, especially since the Asian Financial Crisis. In answering the second question, we argue that legitimate social purpose has propelled Post-Asian financial crisis South Korean policy-makers to strive to diversify the sources of economic activity and job creation away from chaebols while simultaneously embedding the chaebol in the growing entrepreneurial ecosystem. The legitimate social purposes have input legitimacy via fit with employment and diversification aims and output legitimacy gleaned from the perceived positive performance of the entrepreneurial ecosystem.

Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/10.1080/13563467.2018.1563058 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:cnpexx:v:25:y:2020:i:3:p:337-353

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/cnpe20

DOI: 10.1080/13563467.2018.1563058

Access Statistics for this article

New Political Economy is currently edited by Professor Colin Hay

More articles in New Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2025-03-20
Handle: RePEc:taf:cnpexx:v:25:y:2020:i:3:p:337-353