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Developmental state in Korea (60-70ties) revisited: Institution-building for the making of 'coordinated market'

Sung-Jo Park

No 2013-02, Discourses in Social Market Economy from OrdnungsPolitisches Portal (OPO)

Abstract: The paper attempts to decribe and analyze institutiononal and strategic variables for the success of developmental state under the Park Regime in the 60-70ties in Korea. Particular accent was placed on economic planning and its implementation supported by rationality-centered bureaucrats and foreign capital inducement. Mention was made about the exportled development strategy combined with the unbalanced growth model which resulted in severe regional development gap. A noteworty strategy by the Park regime was to bring up Chaebols as development actors which contributed to a successful model of technology-intensive heavy and chemical industries.

Keywords: developmental state; planning; import substitution; chaebols; unbalanced growth (search for similar items in EconPapers)
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Date: 2013
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Handle: RePEc:zbw:opodis:201302