The Politics of Economic Reform in South Korea: A Fragile Miracle (Routledge Advances in Korean Studies)

This comprehensive and authoritative account of the development of the Korean economy combines an historical approach with a substantial treatment of the new economy. Its fresh analysis of the recent transition and systematic treatment of labour issues represent a significant contribution to the scholarship on the politics of development. It is an essential resource for students of comparative political economy and East Asian development. Focusing on Korea, this work explores the reasons why this state has experienced gradual economic reform while other authoritarian regimes have been swept away by the "dual revolution" of democratization and economic liberalization. Tat Yan Kong argues that the East Asian path through these transitions has been the smoothest, with the economic and political practices of authoritarian industrialization being dismantled gradually. Thi s book examines the origins and limitations of this transition in the light of the South Korean experience and addresses key issues such as: the role of the state in promoting economic development; the changing relationship between state, business and labour; the problems experienced during the transition from developmental state to advanced economy; and similarities between Korea and extant models of advanced capitalism Focusing on Korea, this work explores the reasons why this state has experienced gradual economic reform while other authoritarian regimes have been swept away by the dual revolution of democratisation and economic liberalisation. The character of state business relationships shapes economic development opportunity by encouraging certain type of market activities while discouraging others.