State-market realignment in post-crises east asia
State-market realignment in post-crises east asia
From GNP developmentalism to welfare developmentalism?
Using theoretical framework expounded by Evans in Chapter 1, this chapter examines how a classic developmental state – South Korea – has, in the wake of the 1997-8 Asian financial crisis, transformed itself from an ailing crony state into a participatory democracy through simultaneously reinvigorating civil society, restoring markets, and strengthening the role of the state. These processes have further empowered the chaebols (large diversified family-owned conglomerates), while democratization has weakened the foundations of a developmental state based on authoritarianism and repression of civil society. This case study provides a helpful comparative model for Hong Kong.
Keywords: South Korea, Development, State, Asian Financial Crisis, Civil Society, Chaebols, Democratization, Hong Kong, Authoritarianism
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