@article{ART002084297},
author={Kim,Hyung-Kee},
title={Financial Liberalization and Transformation in the East Asian Development Model},
journal={Asia Review},
issn={2234-0386},
year={2016},
volume={5},
number={2},
pages={63-88}
TY - JOUR
AU - Kim,Hyung-Kee
TI - Financial Liberalization and Transformation in the East Asian Development Model
JO - Asia Review
PY - 2016
VL - 5
IS - 2
PB - 아시아연구소
SP - 63
EP - 88
SN - 2234-0386
AB - Financial liberalization was the most distinctive in the Anglo-Americanmodel. By contrast, financial repression was a major ingredient of theEast Asian development model. Thus, financial liberalization wouldbe a destructive force for the East Asian development model.Financialliberalization introduced the elements of shareholder capitalism intothe corporate sector. In shareholder capitalism, maximization of theshareholder becomes a major goal of management. Thus, it depressedlong-term investment because of the short-termism inherent in theprinciples of shareholder capitalism. This study aims to clarify how theEast Asian development model has transformed in the process of financialliberalization. It is argued that the East Asian development model hastransformed into a hybrid model in which the elements of the Anglo-American model were grafted onto the East Asian development model.
Financial liberalization was followed by labor market flexibilization. Theresult of the transformation has been hybridization rather than transition.
KW - Financial liberalization;East Asian development model;hybridization
DO -
UR -
ER -
Kim,Hyung-Kee. (2016). Financial Liberalization and Transformation in the East Asian Development Model. Asia Review, 5(2), 63-88.
Kim,Hyung-Kee. 2016, "Financial Liberalization and Transformation in the East Asian Development Model", Asia Review, vol.5, no.2 pp.63-88.
Kim,Hyung-Kee "Financial Liberalization and Transformation in the East Asian Development Model" Asia Review 5.2 pp.63-88 (2016) : 63.
Kim,Hyung-Kee. Financial Liberalization and Transformation in the East Asian Development Model. 2016; 5(2), 63-88.
Kim,Hyung-Kee. "Financial Liberalization and Transformation in the East Asian Development Model" Asia Review 5, no.2 (2016) : 63-88.
Kim,Hyung-Kee. Financial Liberalization and Transformation in the East Asian Development Model. Asia Review, 5(2), 63-88.
Kim,Hyung-Kee. Financial Liberalization and Transformation in the East Asian Development Model. Asia Review. 2016; 5(2) 63-88.
Kim,Hyung-Kee. Financial Liberalization and Transformation in the East Asian Development Model. 2016; 5(2), 63-88.
Kim,Hyung-Kee. "Financial Liberalization and Transformation in the East Asian Development Model" Asia Review 5, no.2 (2016) : 63-88.
