Transformation of the South Korean State: Structural Changes of the State after the 1997 Financial Crisis

Bum-Soo Chon, Erick Duchesne and Sunhyuk Kim
Additional contact information
Bum-Soo Chon: Korea National Open University
Erick Duchesne: State University of New York at Buffalo
Sunhyuk Kim: Korea University

No 20042, University of Western Ontario, Economic Policy Research Institute Working Papers from University of Western Ontario, Economic Policy Research Institute

Abstract: The entire process of Korean economic development in the 1960s, 1970s, and 1980s demonstrated the possibility of economic development in the third world. The 1997 financial crisis led many to affirm that the Korean state had lost its ability to deal with domestic economic and welfare policies. Using Cerny's three "shifts" in the character and nature of the welfare state, this paper examines changes in the Korean state after the economic crisis and assess whether globalization and neo-liberal economic restructuring have resulted in the emergence of a new type of state in Korea. The results suggest that although globalization undermines the economic and political conditions on which the developmental state was based, there is no indication that the developmental interventionist state, which had been a crucial feature of Korea's industrialized process over the past few decades, has actually weakened. Rather, as compared with previous regimes, the state has become more powerful and more interventionist. Despite a convergence in national economic policies toward the economic paradigm of the competition state, there are still unique domestic responses to globalization according to different national economic ideologies and past practices.

Keywords: South Korea; financial crisis; globalization; models of economic development (search for similar items in EconPapers)
JEL-codes: F02 F32 P51 (search for similar items in EconPapers)
Date: 2004
New Economics Papers: this item is included in nep-his and nep-ifn
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ir.lib.uwo.ca/cgi/viewcontent.cgi?article=1014&context=economicsepri_wp (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

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:uwo:epuwoc:20042

Ordering information: This working paper can be ordered from
https://economics.uw ... itting_ordering.html
The price is Paper copy available by mail at a cost of $10.00 Canadian each.

Access Statistics for this paper

More papers in University of Western Ontario, Economic Policy Research Institute Working Papers from University of Western Ontario, Economic Policy Research Institute Economic Policy Research Institute, Social Science Centre, University of Western Ontario, London, Ontario, Canada N6A 5C2.
Bibliographic data for series maintained by ().