The Korean Developmental State: From dirigisme to neo-liberalism (Routledge Studies in the Growth Economies of Asia)

The Korean Developmental State is a comprehensive and up-to-date analysis of processes of state and economic restructuring in South Korea since the 1997 crisis. The book distinguishes itself from previous studies by consistently arguing that structural changes in the global political economy have played a crucial role in reshaping the Korean state’s own economic project. More precisely, Iain Pirie seeks to demonstrate how the Korean state increasingly adopted neo-liberal policies from the 1980s onwards as a rational response to the evolution of global economic structures; an evolution which has been driven by the continuous attempts of major global firms and leading capitalist states to overcome the chronic profitability problems that have dogged the core capitalist area since the late 1960s. The radical restructuring programme the Korean state initiated after the 1997 crisis must be understood as a logical conclusion to these earlier, more incremental, processes of reform it initiated almost two decades earlier. This book seeks to establish the neo-liberal character of the Korean state through a close analysis of key institutional and policy reforms, and serious engagement with more theoretical debates concerning the nature of the neo-liberal state itself. The Korean Developmental State offers a new perspective on the economic experience of Korea as a development model, one that emphasizes global trends and contradictions for Korea’s economic crisis and resulting transformation, and as such will be of significant interest to scholars of Korean studies and the Asian economy. Book Cover......Page 1 Title......Page 8 Copyright......Page 9 Contents......Page 10 Abbreviations......Page 12 1 The Korean developmental state, industrialisation, crisis and post-crisis restructuring......Page 14 2 Putting Korea in its place......Page 30 3 Global competition, neo-liberalism and alternatives......Page 49 4 Ontology of a miracle......Page 72 5 Disintegration of the development state and the failure of economic liberalisation in Korea......Page 89 6 Building institutions for markets......Page 118 7 Corporate and financial restructuring in post-crisis Korea......Page 159 8 Social impact of crisis and neo-liberal restructuring......Page 189 9 Conclusion: A neo-liberal state and the contradictions of neo-liberalism......Page 209 Notes......Page 213 References......Page 226 Index......Page 242 The Korean Developmental State, Industrialisation, Crisis And Post-crisis Restructuring -- Putting Korea In Its Place -- Global Competition, Neo-liberalism And Alternatives -- Ontology Of A Miracle -- The Disintegration Of The Development State And The Failure Of Economic Liberalisation In Korea -- Building Institutions For Markets -- Corporate And Financial Restructuring In Post-crisis Korea -- Social Impact Of Crisis And Neo-liberal Restructuring -- Conclusion : A Neo-liberal State And The Contradictions Of Neo-liberalism. Iain Pirie. Includes Bibliographical References (p. [213]-228) And Index. Critical introduction and literature review Putting Korea in its place Global competition, neo-liberalism and alternatives The ontology of a miracle The disintegration of the development state and the failure of economic liberalisation in Korea Building institutions for markets Corporate and financial restructuring in post-crisis Korea The social impact of crisis neo-liberal restructuring Conclusion. Gives a comprehensive analysis on the processes of state and economic restructuring in South Korea since the 1997 crisis. This book argues that in order to understand these processes it is necessary to analyze the evolution of global economic structures and how the Korean state's own economic project has been Focusing on the processes of state and economic restructuring in South Korea since the 1997 crisis, this book argues that in order to understand these processes it is necessary to analyse the evolution of global economic structures and how the Korean state's own economic project has been Ian Pirie gives a comprehensive and up-to-date analysis of state and economic restructuring in South Korea since the 1997 crisis.