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Economic Development in China and Its Implications for East Asia

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  • Chung H. Lee

    () (Department of Economics, University of Hawaii at Manoa)

Abstract

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.

Suggested Citation

  • Chung H. Lee, 2004. "Economic Development in China and Its Implications for East Asia," Working Papers 200412, University of Hawaii at Manoa, Department of Economics.
  • Handle: RePEc:hai:wpaper:200412
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    File URL: http://www.economics.hawaii.edu/research/workingpapers/WP_04-12.pdf
    File Function: First version, 2004
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    Cited by:

    1. Muhammad Ullah & Kazuo Inaba, 2014. "Liberalization and FDI Performance: Evidence from ASEAN and SAFTA Member Countries," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 3(1), pages 1-24, December.
    2. Michael G. PLUMMER & David CHEONG, 2009. "Fdi Effects Of Asean Integration," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 29, pages 49-67.

    More about this item

    Keywords

    Korea; Institutional Reform; Asian Financial Crisis.;

    JEL classification:

    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • P1 - Economic Systems - - Capitalist Systems
    • G1 - Financial Economics - - General Financial Markets

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