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This book analyzes, from a historical comparative perspective, the Korean economic development model, the extent to which it has changed from its classical model, and what constitutes its changes and continuity. Unlike studies claims the dissolution of Korean developmentalism, the book holds that the Korean state maintains its characteristics of state-led capitalism despite significant changes in policies and instruments rather than converge toward an AngloSaxon-style free market system. It emphasizes that the continuity of state-led capitalism is compatible with institutional change. Some institutionalists insist that the continuity of Korean developmentalism is based on path dependency. In contrast, this book argues that Korean capitalism could sustain its state developmentalism by changes in policies and instruments to improve national industrial competitiveness in the changed context of international competition. This book will be of interest to East Asian scholars, comparative economists, and those curious about the future of the Korean peninsula.
By historically tracing Korean capitalism and comparing it with other economies, this book examines prevalent theories including neoliberalism, the developmental state, and institutionalism, and proposes a theoretical alternative.
This book problematises the statist underpinnings of the concept of the ‘developmental state,’ in terms of both state–society and national–global relations, challenging the notion that the state is the agent of national development qua being autonomous from the domestic and global economies. Presenting a thorough and comprehensive critical assessment of the extant approaches and theories of the Korean developmental state in particular, this book demonstrates that the existing literature, including Marxist critiques, only inadequately and partially challenge statism. It examines how statism reinforces and is reinforced by ‘Third World Developmentalism’, the idea that ‘development’ is in itself a positive goal and that a nationally autonomous mode of development should be promoted as a means of empowerment. In opposition, this book offers a critique of statism by constructing an alternative theoretical framework, extending Marx’s concept of commodity fetishism to state–society and national–global relations. Drawing on a new theoretical framework and significant Korean literature, The State, Class and Developmentalism in South Korea offers a novel historical interpretation and critique of the developmental state in the Korean context. As such, it will be useful to students and scholars of Asian studies, Development Studies and International Political Economy.
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.
In the postwar period, Korea’s economic and social-political metamorphosis is a rare example of a successful transition from one of the world’s poorest developing countries to a highly sophisticated industrial society—an experience which many developing countries are keen to emulate. The change is particularly significant as Korea was able to reduce poverty and keep social inequality at a modest level during its rapid economic development. This volume analyzes the Korean transition in regards to the political and institutional foundation of its government and public policies. The government of Korea single-mindedly carried out public policies to stimulate economic growth, but the government and public policies have themselves been affected and changed by the process. The contention of this volume is that the transition of Korean society and the evolution of the Korean government are the results of two-way interactions. In this context, the volume analyzes the way in which the dynamics of public administration were shaped within the Korean government and the kinds of public policies and instruments that were adopted to encourage this economic and social development. This analysis will allow a more complete understanding of the economic and social transformation of Korea. Surprisingly, there is a paucity of research on this aspect—a gap which this volume seeks to fill. This volume shows that it is necessary to maintain consistency and coherence in government and public policy in order to achieve economic and social transformation, making it of interest to both scholars and policy-makers concerned with development in the Asia-Pacific.
South Korea's path toward a higher quality of life has been a dynamic process, Suh shows, shaped by historical contingencies, some immutable logic of capitalist development, and a dialectical relationship between the state and Korean civil society. Debunking the illusion of democracy and myths of self-regulating capitalism in South Korea, Suh shows that a growth machine is not a panacea for the development of human beings and their quality of life. If instead the raison d'etre of quality of life depended upon a robust civil society operating under fair rules of the game by the state, the developmental road would be more promising. Suh seeks to test the hypothesis that the rising tide of economic growth will raise all boats in the Korean sea, remapping its structural pressure points which have been submerged at high tide. Given the high levels of economic growth generated by state intervention, any demand of distributive justice necessitates egailitarian reforms. As Suh shows, the present South Korean situation goes straight to the heart of theoretical questions about the enduring structures of capitalism, and its promise to improve average living standards and to link the redistribution of economic rewards to enhanced economic performance of the system as a whole. South Korea's path to quality of life has been a dynamic process, Suh shows, determined by historical contingencies, with some immutable logic of capitalist development, and a dialectical relationship between the state and Korean civil society. A study of particular interest to scholars, researchers, and policy makers concerned with political economy and social-economic development and East Asian Studies.
This book contends that the long history of America’s interaction with Korea started with the signing of the Treaty of Peace, Amity, Commerce, and Navigation in 1882, and with the establishment of the Seward-Shufeldt Line. William Seward and Robert Shufeldt shared the same vision of achieving their American goal by opening Korea and extending the Seward-Shufeldt Line from Alaska to link it with the Philippines and the Samoan Islands, thus completing a perfect perimeter for the American era of the Pacific and for its dominance in the Asian market. Initiating diplomatic and trading relations with Korea was Commodore Shufeldt’s finishing touch on the plan for achieving American hegemony in the coming 20th century. In turn, the decline of Chinese sphere of influence over the Korean Peninsula and the fall of Russian power in the region, with the consequential rise of Japanese power there, which led to a change from the SS Line to the Roosevelts’ Theodore-Franklin Line, the colonization of Korea, the division of Korea, the Korean War, and has brought America back nearly full circle to that first encounter in Pyeongyang; the regrettable General Sherman Incident in 1866. This book argues that the United States must uphold its early commitment to peace and amity by now normalizing relations with North Korea in order to bring closure to the “Korean Question.”