Theories of Industrial Transformation

Haeran Lim
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Haeran Lim: Ewha Womans University

Chapter 2 in Korea’s Growth and Industrial Transformation, 1998, pp 10-41 from Palgrave Macmillan

Abstract: Abstract Many theories have been offered to explain industrial transformation. These include product cycle theory, development theory, dependency/ world system theory and statist theory. Among them, product cycle theory and statist theory have provided a useful way to understand the pattern of industrial transformation in Korea. I argue that product cycle theory and statist theory are useful, but incomplete to explain industrial transformation of Korea. Both theories neglect the effects of domestic politics on industrial transformations. Product cycle theory only reflects the economic mechanism of shifting industrial bases in a country. However, shift of industrial bases reflects domestic politics. Statist theory emphasizes that the national government is important in exercising its control over industrial transformation. However, it overlooks the political origin of the preferences of state incumbents. This chapter suggests coalition theory could fill the gap left by the two theories by examining the interaction between state incumbents and industrial groups.

Keywords: Industrial Sector; Industrial Policy; Coalition Formation; Policy Priority; Domestic Politics (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1057/9780230377936_2

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