IDEAS home Printed from https://ideas.repec.org/a/taf/rrpaxx/v9y2004i2p39-53.html

Policy Reform in Japan and South Korea (1997-2002)

Author

Listed:
  • Wangsik Kim

Abstract

This paper argues that institutional ties among executives, bureaucracy and business became formidable constraints and political challenges for the government executives to reform problem-ridden economies in Japan and Korea from 1997 to 2002. Based on historical institutionalism and the model of altered states, this article identifies three crucial factors: first, international or domestic events that provide government executives with opportunities for potential transformation; second, government executives that utilize these opportunities for transformation; third, institutional context that allows or limits them to initiate and implement structural reforms. Building on this framework, it is argued that the degree of structural reform in a country depends on government executives positions in an institutional context, which shapes preferences and goals of the political executives in the decision-making process and constrains the capacity for specific policy outputs.

Suggested Citation

  • Wangsik Kim, 2004. "Policy Reform in Japan and South Korea (1997-2002)," International Review of Public Administration, Taylor & Francis Journals, vol. 9(2), pages 39-53, January.
    • Handle: RePEc:taf:rrpaxx:v:9:y:2004:i:2:p:39-53
    DOI: 10.1080/12294659.2005.10805048
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/12294659.2005.10805048
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/12294659.2005.10805048?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Stephan Haggard, 2000. "Political Economy of the Asian Financial Crisis, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 107, July.
    2. Robert C. Hsu, 1999. "The MIT Encyclopedia of the Japanese Economy, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262082802, December.
    3. Steven Radelet & Jeffrey Sachs, 1998. "The Onset of the East Asian Financial Crisis," NBER Working Papers 6680, National Bureau of Economic Research, Inc.
    4. John Williamson, 1994. "The Political Economy of Policy Reform," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 68, July.
    5. Steven Radelet & Jeffrey D. Sachs, 1998. "The East Asian Financial Crisis: Diagnosis, Remedies, Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 1-90.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bernd Hayo & Doh Shin, 2002. "Mass Attitudes Toward Financial Crisis and Economic Reform in Korea," Development and Comp Systems 0205003, University Library of Munich, Germany.
    2. Alshyab, Nooh, 2013. "The Political Economy of Reform and Development of the Washington Consensus," MPRA Paper 46014, University Library of Munich, Germany.
    3. Shin-ichi Fukuda & Yoshifumi Kon, 2012. "Macroeconomic Impacts of Foreign Exchange Reserve Accumulation: Theory and International Evidence," Chapters, in: Masahiro Kawai & Peter J. Morgan & Shinji Takagi (ed.), Monetary and Currency Policy Management in Asia, chapter 5, Edward Elgar Publishing.
    4. Shinji Takagi, 2010. "Applying the Lessons of Asia: The IMF’s Crisis Management Strategy in 2008," Working Papers id:3006, eSocialSciences.
    5. Archana S Mathur, 2010. "External Economic Situation In India - Recent Trends and Policy Implications," Working Papers id:3077, eSocialSciences.
    6. Peter L. Rousseau & Paul Wachtel, 2015. "Episodes of Financial Deepening: Credit Booms or Growth Generators?," Working Papers 15-09, New York University, Leonard N. Stern School of Business, Department of Economics.
    7. Ding, Yuting & Jiang, Weihua & Wang, Hongbin, 2012. "Hopf-pitchfork bifurcation and periodic phenomena in nonlinear financial system with delay," Chaos, Solitons & Fractals, Elsevier, vol. 45(8), pages 1048-1057.
    8. Anna, Merika & Anna, Triantafyllou & George, Zombanakis, 2019. "Wage and tax competitiveness: The case of Hellenic shipping," Transportation Research Part A: Policy and Practice, Elsevier, vol. 119(C), pages 255-270.
    9. Julie McKay & Ulrich Volz & Regine Wölfinger, 2011. "Regional Financing Arrangements and the IMF," Chapters, in: Ulrich Volz (ed.), Regional Integration, Economic Development and Global Governance, chapter 10, Edward Elgar Publishing.
    10. Esaka, Taro, 2003. "Was it really a dollar peg?: The exchange rate policies of East Asian countries, 1980-1997," Journal of Asian Economics, Elsevier, vol. 13(6), pages 787-809, January.
    11. F. Gulcin Ozkan, 2005. "Currency and Financial Crises in Turkey 2000 –2001: Bad Fundamentals or Bad Luck?," The World Economy, Wiley Blackwell, vol. 28(4), pages 541-572, April.
    12. Berstein Solange & Mario Marcel, 2019. "El Sistema Financiero en Chile: Lecciones de la Historia Reciente," Economic Policy Papers Central Bank of Chile 67, Central Bank of Chile.
    13. Islam, Roumeen, 2000. "Should capital flows be regulated? - a look at the issues and policies," Policy Research Working Paper Series 2293, The World Bank.
    14. Assaf Razin & Itay Goldstein, 2012. "Review Of Theories of Financial Crises," 2012 Meeting Papers 214, Society for Economic Dynamics.
    15. Keshab Bhattarai, 2015. "Financial Deepening and Economic Growth in Advanced and Emerging Economies," Review of Development Economics, Wiley Blackwell, vol. 19(1), pages 178-195, February.
    16. Hefeker, Carsten, 2003. "Handels- und Finanzarchitektur im Umbruch: Globale Integration und die institutionelle Arbeitsteilung von IWF, Weltbank und WTO," HWWA Discussion Papers 225, Hamburg Institute of International Economics (HWWA).
    17. Leonardo Hernández & Klaus Schmidt-Hebbel, 2002. "Banking, Financial Integration, and International Crises: An Overview," Central Banking, Analysis, and Economic Policies Book Series, in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.),Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 1, pages 001-030, Central Bank of Chile.
    18. Li, Kui-Wai & Kwok, Ming-Lok, 2009. "Output volatility of five crisis-affected East Asia economies," Japan and the World Economy, Elsevier, vol. 21(2), pages 172-182, March.
    19. Bhattacharyay, Biswa Nath, 2013. "Determinants of bond market development in Asia," Journal of Asian Economics, Elsevier, vol. 24(C), pages 124-137.
    20. Edwin M. Truman, 2013. "Asian and European Financial Crises Compared," Working Paper Series WP13-9, Peterson Institute for International Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rrpaxx:v:9:y:2004:i:2:p:39-53. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RRPA20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.