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Korea’s Post-1997 Restructuring

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  • Hyeng-Joon Park

Abstract

This paper aims to transcend current debates on Korea’s post-1997 restructuring, which rely on a dichotomy between domestic industrial capital and foreign financial capital, by adopting Nitzan and Bichler’s capital-as-power perspective. Based on this approach, the paper analyzes Korea’s recent political economic restructuring as the latest phase in the evolution of capitalist power and its transformative regimes of capital accumulation.

Suggested Citation

  • Hyeng-Joon Park, 2016. "Korea’s Post-1997 Restructuring," Review of Radical Political Economics, Union for Radical Political Economics, vol. 48(2), pages 287-309, May.
    • Handle: RePEc:sae:reorpe:v:48:y:2016:i:2:p:287-309
    DOI: 10.1177/0486613415594147
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    References listed on IDEAS

    as
    1. Nitzan, Jonathan & Bichler, Shimshon, 2009. "Capital as Power. A Study of Order and Creorder," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157973, July.
    2. Joseph E. Stiglitz, 1989. "Markets and Development," NBER Working Papers 2961, National Bureau of Economic Research, Inc.
    3. Bichler, Shimshon & Nitzan, Jonathan, 2002. "New Economy or Transnational Ownership? The Global Political Economy of Israel," EconStor Preprints 157818, ZBW - Leibniz Information Centre for Economics.
    4. Bichler, Shimshon & Nitzan, Jonathan, 2014. "How Capitalists Learned to Stop Worrying and Love the Crisis," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 66, pages 65-73.
    5. Nitzan, Jonathan & Bichler, Shimshon, 2002. "The Global Political Economy of Israel," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157972, July.
    6. James Crotty & Kang-Kook Lee, 2009. "Was IMF-Imposed Economic Regime Change in Korea Justified? The Political Economy of IMF Intervention," Review of Radical Political Economics, Union for Radical Political Economics, vol. 41(2), pages 149-169, June.
    7. Stiglitz, Joseph E, 1989. "Markets, Market Failures, and Development," American Economic Review, American Economic Association, vol. 79(2), pages 197-203, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    differential accumulation; dominant capital; chaebols; transnationalization; strategic sabotage;
    All these keywords.

    JEL classification:

    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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