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Theories of Industrial Transformation

In: Korea’s Growth and Industrial Transformation

Author

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  • Haeran Lim

    (Ewha Womans University)

Abstract

Many theories have been offered to explain industrial transformation. These include product cycle theory, development theory, dependency/ world system theory and statist theory. Among them, product cycle theory and statist theory have provided a useful way to understand the pattern of industrial transformation in Korea. I argue that product cycle theory and statist theory are useful, but incomplete to explain industrial transformation of Korea. Both theories neglect the effects of domestic politics on industrial transformations. Product cycle theory only reflects the economic mechanism of shifting industrial bases in a country. However, shift of industrial bases reflects domestic politics. Statist theory emphasizes that the national government is important in exercising its control over industrial transformation. However, it overlooks the political origin of the preferences of state incumbents. This chapter suggests coalition theory could fill the gap left by the two theories by examining the interaction between state incumbents and industrial groups.

Suggested Citation

  • Haeran Lim, 1998. "Theories of Industrial Transformation," Palgrave Macmillan Books, in: Korea’s Growth and Industrial Transformation, chapter 2, pages 10-41, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37793-6_2
    DOI: 10.1057/9780230377936_2
    as

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