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The Political Economy of Industrial Policy in Korea

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Author Info
Chang, Ha-Joon

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Abstract

The article aims to provide some additional empirical support and theoretical consolidation for the emerging 'alternative' interpretation of the Korean developmental experience, which emphasizes the role of the state. After briefly reviewing some mainstream interpretations, it presents a detailed account of state intervention in Korea, where it is revealed that industrial policy played the central role. Then it explains how the Korean state was able to avoid some of the obvious dangers of such a policy, which is often associated with economic failures in developing countries. It then explores the basis of state power in Korea which provided a background for such an outcome. Copyright 1993 by Oxford University Press.

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Publisher Info
Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

Volume (Year): 17 (1993)
Issue (Month): 2 (June)
Pages: 131-57
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Handle: RePEc:oup:cambje:v:17:y:1993:i:2:p:131-57

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  1. Kokko, Ari, 2002. "Export-Led Growth in East Asia: Lessons for Europe's Transition Economies," EIJS Working Paper Series 142, The European Institute of Japanese Studies.
  2. Gerald Epstein & Ilene Grabel, 2007. "Financial Policy," Publications 3, International Policy Centre for Inclusive Growth. [Downloadable!]
  3. J. H. Love & P. W. Roberts & P. Bull & D. Sadler & M Clark & M. M. Huq & D. Turnock & R. Perman & A. H. Spencer & R. Smith & D. Pitfield, 1996. "Book Reviews," Regional Studies, Taylor and Francis Journals, vol. 30(7), pages 713-721, November. [Downloadable!] (restricted)
  4. Justin Yifu Lin, 2001. "Development Strategy, Viability, and Economic Convergence," William Davidson Institute Working Papers Series 409, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  5. Ha-Joon Chang & Chul-Gyue Yoo, 1999. "The Triumph of the Rentiers? The 1997 Korean Crisis in a Historical Perspective," SCEPA Working Papers 1999-05, Schwartz Center for Economic Policy Analysis (SCEPA), The New School. [Downloadable!]
  6. Keun Lee & Donghoon Hahn & Justin Lin, 2001. "China and the East Asian Model A 'Comparative Institutional Analysis'Perspective," Working Paper Series no41, Institute of Economic Research, Seoul National University. [Downloadable!]
  7. Shafaeddin, Mehdi & Pizarro, Juan, 2007. "From Export Promotion To Import Substitution; Comparative Experience of China and Mexico," MPRA Paper 6650, University Library of Munich, Germany, revised Oct 2007. [Downloadable!]
  8. Keun Lee & Justin Y. Lin & Ha-Joon Chang, 2000. "Late Marketization versus Late Industrialization in East Asia: Convergence and Divergence among Japan, Korea, Taiwan, China, Vietnam, & Mongolia," Working Paper Series no37, Institute of Economic Research, Seoul National University. [Downloadable!]
  9. S.M. Shafaeddin, 2004. "Who Is The Master? Who Is The Servant? Market Or Government? An Alternative Approach: Towards A Coordination System," UNCTAD Discussion Papers 175, United Nations Conference on Trade and Development. [Downloadable!]
  10. Diego Sánchez-Ancochea, 2005. "Capitalismo, desarrollo y Estado. Una revisión crítica de la teoría del Estado de Schumpeter," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 7(13), pages 81-100, July-Dece. [Downloadable!]
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