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@article{ART002871661},
author={Yoon, Sang-Woo},
title={Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008},
journal={Asia Review},
issn={2234-0386},
year={2022},
volume={12},
number={2},
pages={7-40}

TY - JOUR
AU - Yoon, Sang-Woo
TI - Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008
JO - Asia Review
PY - 2022
VL - 12
IS - 2
PB - 아시아연구소
SP - 7
EP - 40
SN - 2234-0386
AB - South Korea’s (hereafter, Korea) development model, which achieved high growth through the developmental state in the early industrialization era, was converted to a neoliberal economic model after the 1997 Asian financial crisis. Korea’s neoliberalism has the characteristics of ‘developmental neoliberalism’, in which the inertia of the developmental state remains strong. Through this, Korea was able to maintain solid growth in the 2000s. However, as the economic conditions deteriorated after the Global Financial Crisis of 2008, uncertainty in the development model is increasing. This study aims to analyze the continuity and change of Korea’s development model since the Global Financial Crisis (2008-2019) . The continuity of Korea’s development model is that the developmental neoliberalism was maintained without any reversal or qualitative change even in the 2010s. The changes in Korea’s development model can be attributed to the following three aspects. First, all governments in the 2010s reinforced their industrial policy interventions in innovative industries, thereby strengthening the developmentalist nature more than in the previous period. Second, because of increasing fragmentation of Korea’s development regime, institutional cohesion of the state apparatus is declining. Third, while the export-led growth system established by large corporations since the 2000s was a key driver of growth, the system is gradually facing limitations due to the decline of world trade and globalization after the Global Financial Crisis.
KW - South Korea;developmental neoliberalism;development regime;Global Financial Crisis of 2008;innovative growth;export-led growth regime
DO -
UR -
ER -

Yoon, Sang-Woo. (2022). Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008. Asia Review, 12(2), 7-40.

Yoon, Sang-Woo. 2022, "Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008", Asia Review, vol.12, no.2 pp.7-40.

Yoon, Sang-Woo "Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008" Asia Review 12.2 pp.7-40 (2022) : 7.

Yoon, Sang-Woo. Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008. 2022; 12(2), 7-40.

Yoon, Sang-Woo. "Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008" Asia Review 12, no.2 (2022) : 7-40.

Yoon, Sang-Woo. Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008. Asia Review, 12(2), 7-40.

Yoon, Sang-Woo. Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008. Asia Review. 2022; 12(2) 7-40.

Yoon, Sang-Woo. Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008. 2022; 12(2), 7-40.

Yoon, Sang-Woo. "Continuity and Changes in the Korean Development Model since the Global Financial Crisis of 2008" Asia Review 12, no.2 (2022) : 7-40.