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Economic Development in China and Its Implications for East Asia

  • Chung H. Lee


    (Department of Economics, University of Hawaii at Manoa)

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    In the aftermath of the economic crisis of 1997-98 South Korea has undertaken a number of major institutional reforms. What are these reforms? Why were they undertaken? What is the outcome of the reforms? In answering these questions the paper examines the influence that the ideas of political leaders on political economy had in setting forth the reform agenda and the role that various interest groups have played in implementing the reform. It argues that there was a shift in the developmental paradigm in the early 1980s, that the new paradigm guided reforms in Korea during the 1980s and 1990s but with initial conditions and interest politics influencing the implementation and actual outcome of reform, and that the post-crisis reform was a culmination of the reform process that began in the early 1980s.

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    File Function: First version, 2004
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    Paper provided by University of Hawaii at Manoa, Department of Economics in its series Working Papers with number 200412.

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    Length: 37 pages
    Date of creation: 2004
    Date of revision:
    Publication status: Forthcoming in The Journal of Asia Pacific Economy.
    Handle: RePEc:hai:wpaper:200412
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