1st Edition

The Korean Economic System Governments, Big Business and Financial Institutions

By Jae-Seung Shim, Moosung Lee Copyright 2008

    Focusing on the formation of the Korean economic system, this book presents a fascinating and comprehensive analysis of economic development outside of the traditional neo-classical, developmental-state and dependency perspectives. It examines in detail the evolution of institutions that contributed to economic growth and the formation and the workings of the economic system. With an emphasis on the interaction between government, private institutions (Chaebol and financial institutions) and the influence of Japan, it offers one of the most stimulating and distinctive views of Korean economic development to date. It will be of key interest to scholars and researchers of financial growth and development, Asian finance, and regional and heterodox economics.

    Chapter 1 1The whole argument of this research draws on the PhD thesis of Jae-Seung Shim, but it has reviewed and updated afterwards. The first author is Jae-Seung Shim; Part 1 Part 1; Chapter 2 Existing Explanations for Korean Economic Development; Chapter 3 An Evolutionary Analysis of the Economic System; Chapter 4 The Korean Economic System; Part 2 Part 2; Chapter 5 The State and the Chaebol; Chapter 6 The State and Financial Institutions; Chapter 7 Japan’s Influence on the Formation of the Korean Economic System; Chapter 8 Conclusion;


    Shim, Jae-Seung; Lee, Moosung

    'This is an original and insightful account of the development of the Korean economy. It explains the development of that economy in a challenging way putting government, international links and key private sector bodies and the links between these at the heart of the account. In doing so it provides a refreshing perspective that is important not just for those interested in East Asia or different pathways to economic strength but to anyone interested in different ways of looking at modern economic and urban development.' Alan Murie, University of Birmingham, UK