Financial Liberalisation and Institutional Incompatibility
The Unresolved Dilemma of the Korean Economy
Bibliographic Data
| ID | 6353340 |
|---|---|
| Authors | Jaehwan Jung (0000-0001-9678-8071) |
| Year | 2015 |
| Volume | 35 |
| Issue | 1 |
| Pages | 46-57 |
| Publication date | 2015-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Politics (JOURNAL) |
| Journal identifiers | ISSN: 0032-3268 • E-ISSN: 1467-9256 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1111/1467-9256.12070 |
| OpenAlex | W1499778288 |
| Language | EN |
| Citations received | 3 |
| References cited | 42 |
Using a ‘varieties of capitalism’ approach, this article explains the ongoing contradictions of the Korean economy in terms of institutional incompatibilities between the liberalised financial system and the most important institutional legacy of the Korean developmental model: the chaebol system. Using its control over financial resources, the developmental state supported, monitored and disciplined the chaebol. Since the 1990s, financial liberalisation has been incompatible with the chaebol system. The liberalised financial system has tended to heighten risks or to dampen vitality within the system. Thus, despite attempts at reform, the failure to rectify these incompatibilities has led to an overall weakening of the Korean economy
Business · Capitalism · Chaebol · Corporate governance · Dilemma · Economic system · Economics · Financial system · Keiretsu · Liberalization · Market economy · Political science · Politics · State (computer science · Vitality · Asian Industrial and Economic Development · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Finance
Embedded Autonomy
The political economy of industrial policy in Korea
Getting Interventions Right
Asia's Next Giant
Varieties of Capitalism
Bringing Class Struggle Back into the Economic Crisis
Foreign direct investment in crisis and recovery
The Korean Developmental State
Beyond institutional fetishism
Investing in openness
Institutional investors and the reproduction of neoliberalism
Economic reform after the financial crisis
Neoliberalism and multilevel governance
Transnational capital, the state and foreign economic policy
Eyes wide shut’
Institutional complementarity and diversity of social systems of innovation and production
What can Okun teach Polanyi? Efficiency, regulation and equality in the OECD
The political economy of the Korean financial crisis
The new Korean political economy
Governed interdependence
Better by design
Globalization and national governance
The demise of “Korea, Inc.”
Regulatory Forbearance and Financial Crisis in South Korea
The Political Economy of Financial Liberalization in South Korea
The Sequence and Consequences of Bank Restructuring in South Korea, 1998–2006
Banks and the False Dichotomy in the Comparative Political Economy of Finance
Complementarity and institutional change in capitalist systems
Paradoxes of the Competition State
The Logic of the Developmental State
Neo-liberalism in post-crisis South Korea
Neo-liberal Reform and Bipolarisation of Income in Korea
Uneven crises
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2017 - 2025 (9) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 3 |