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Developmental State in Asia from a Comparative Perspective: The Case of South Korea

Hyun-Chin Lim 1

1서울대학교

Accredited

ABSTRACT

This paper looks at historical trajectories of developmental states including South Korea, Japan, Taiwan and China often famed for their capital accumulation to examine if their success stories are being continued, curtailed or regenerated. With the knowledge that developmental capacities that are self-centered are important in spite of challenges from globalization, South Korea’s prospects and limits to capital accumulation as a developmental state are outlined by its experiences under the Park Chung-hee regime. It is critical to outline the characteristics of Asian developmental states to further the understanding of today’s post-development states. With the onset of the 1997 financial crisis, Asian states have been criticized for having displayed the ironic nature of developmental states rooted in collusive ties between politics and business. However, Asian developmental states including South Korea, China, Taiwan and Japan were noticed in another light when they displayed efficient recovery from the global financial crisis in 2008. As it cannot be assumed that all developmental states are efficient in capital accumulation, role of government becomes a necessary condition and not a sufficient condition for these states. This paper contends that all developmental states are characterized by continuity and changes caused by internal path dependencies and external global economic conditions but discontinuity in their states is rare and developmental neoliberalism can be discussed in such context.

Citation status

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