Economic liberalisation and reform in South Korea in the 1990s: A 'coming of age' or a case of 'graduation blues'?

Third World Quarterly

Volumn 17, Issue 4, 1996, Pages 667-688

  Gills, Barry K ^a  

^a NEWCASTLE UNIVERSITY   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0000986823     PISSN: 01436597     EISSN: None     Source Type: Journal    
DOI: 10.1080/01436599615317     Document Type: Review

References (59)

1. This research was funded by the Economic and Social Research Council, UK, and by the Research Committee of the University of Newcastle upon Tyne. Personal interviews were conducted extensively during July-September 1994 in various economic ministries, the Ministry of Foreign Affairs, the Bank of Korea, and research institutes in Seoul. The author would like to thank Jonathan Moran for his assistance in the final stages of preparation of this article and the editor and staff of The Korea Herald for their kind assistance.
2. See, B Balassa, The Newly Industrializing Countries in the World Economy, New York, Pergamon Press, 1981, and A Krueger, The Development Role of the Foreign Sector and Aid, Cambridge, MA, Harvard University Press, 1979.
3. See, B Balassa, The Newly Industrializing Countries in the World Economy, New York, Pergamon Press, 1981, and A Krueger, The Development Role of the Foreign Sector and Aid, Cambridge, MA, Harvard University Press, 1979.
4. Alice Amsden, Asia's Next Giant: South Korea and Late Industrialization, New York, Oxford University Press, 1989; C Johnson, MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, Stanford, CA, Stanford University Press, 1982; C Johnson, 'Political institutions and economic performance: the government-business relationship in Japan, South Korea, and Taiwan', The Political Economy of the New Asian Industrialism, F Deyo (ed), Ithaca, NY, Cornell University Press, 1987; L Jones and I Sakong, Government, Business, and Entrepreneurship in Economic Development: The Korean Case, Cambridge, MA, Harvard University Press, 1979; R Wade, 'The role of government in overcoming market failure: Taiwan, Republic of Korea and Japan', Achieving Industrialisation in East Asia, Helen Hughes (Ed), Cambridge, MA, Harvard University Press, 1988; R Wade, Governing the Market: The Economic Theory and the Role of the Government in East Asian Industrialization, Princeton, NJ, Princeton University Press, 1990.
5. Alice Amsden, Asia's Next Giant: South Korea and Late Industrialization, New York, Oxford University Press, 1989; C Johnson, MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, Stanford, CA, Stanford University Press, 1982; C Johnson, 'Political institutions and economic performance: the government-business relationship in Japan, South Korea, and Taiwan', The Political Economy of the New Asian Industrialism, F Deyo (ed), Ithaca, NY, Cornell University Press, 1987; L Jones and I Sakong, Government, Business, and Entrepreneurship in Economic Development: The Korean Case, Cambridge, MA, Harvard University Press, 1979; R Wade, 'The role of government in overcoming market failure: Taiwan, Republic of Korea and Japan', Achieving Industrialisation in East Asia, Helen Hughes (Ed), Cambridge, MA, Harvard University Press, 1988; R Wade, Governing the Market: The Economic Theory and the Role of the Government in East Asian Industrialization, Princeton, NJ, Princeton University Press, 1990.
6. Alice Amsden, Asia's Next Giant: South Korea and Late Industrialization, New York, Oxford University Press, 1989; C Johnson, MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, Stanford, CA, Stanford University Press, 1982; C Johnson, 'Political institutions and economic performance: the government-business relationship in Japan, South Korea, and Taiwan', The Political Economy of the New Asian Industrialism, F Deyo (ed), Ithaca, NY, Cornell University Press, 1987; L Jones and I Sakong, Government, Business, and Entrepreneurship in Economic Development: The Korean Case, Cambridge, MA, Harvard University Press, 1979; R Wade, 'The role of government in overcoming market failure: Taiwan, Republic of Korea and Japan', Achieving Industrialisation in East Asia, Helen Hughes (Ed), Cambridge, MA, Harvard University Press, 1988; R Wade, Governing the Market: The Economic Theory and the Role of the Government in East Asian Industrialization, Princeton, NJ, Princeton University Press, 1990.
7. Alice Amsden, Asia's Next Giant: South Korea and Late Industrialization, New York, Oxford University Press, 1989; C Johnson, MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, Stanford, CA, Stanford University Press, 1982; C Johnson, 'Political institutions and economic performance: the government-business relationship in Japan, South Korea, and Taiwan', The Political Economy of the New Asian Industrialism, F Deyo (ed), Ithaca, NY, Cornell University Press, 1987; L Jones and I Sakong, Government, Business, and Entrepreneurship in Economic Development: The Korean Case, Cambridge, MA, Harvard University Press, 1979; R Wade, 'The role of government in overcoming market failure: Taiwan, Republic of Korea and Japan', Achieving Industrialisation in East Asia, Helen Hughes (Ed), Cambridge, MA, Harvard University Press, 1988; R Wade, Governing the Market: The Economic Theory and the Role of the Government in East Asian Industrialization, Princeton, NJ, Princeton University Press, 1990.
8. Alice Amsden, Asia's Next Giant: South Korea and Late Industrialization, New York, Oxford University Press, 1989; C Johnson, MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, Stanford, CA, Stanford University Press, 1982; C Johnson, 'Political institutions and economic performance: the government-business relationship in Japan, South Korea, and Taiwan', The Political Economy of the New Asian Industrialism, F Deyo (ed), Ithaca, NY, Cornell University Press, 1987; L Jones and I Sakong, Government, Business, and Entrepreneurship in Economic Development: The Korean Case, Cambridge, MA, Harvard University Press, 1979; R Wade, 'The role of government in overcoming market failure: Taiwan, Republic of Korea and Japan', Achieving Industrialisation in East Asia, Helen Hughes (Ed), Cambridge, MA, Harvard University Press, 1988; R Wade, Governing the Market: The Economic Theory and the Role of the Government in East Asian Industrialization, Princeton, NJ, Princeton University Press, 1990.
9. Alice Amsden, Asia's Next Giant: South Korea and Late Industrialization, New York, Oxford University Press, 1989; C Johnson, MITI and the Japanese Miracle: The Growth of Industrial Policy, 1925-1975, Stanford, CA, Stanford University Press, 1982; C Johnson, 'Political institutions and economic performance: the government-business relationship in Japan, South Korea, and Taiwan', The Political Economy of the New Asian Industrialism, F Deyo (ed), Ithaca, NY, Cornell University Press, 1987; L Jones and I Sakong, Government, Business, and Entrepreneurship in Economic Development: The Korean Case, Cambridge, MA, Harvard University Press, 1979; R Wade, 'The role of government in overcoming market failure: Taiwan, Republic of Korea and Japan', Achieving Industrialisation in East Asia, Helen Hughes (Ed), Cambridge, MA, Harvard University Press, 1988; R Wade, Governing the Market: The Economic Theory and the Role of the Government in East Asian Industrialization, Princeton, NJ, Princeton University Press, 1990.
10. Amsden, Asia's Next Giant, 1989; Alice Amsden, 'Third world industrialisation; "global Fordism" or a new model', New Left Review, July/August 1990.
11. Amsden, Asia's Next Giant, 1989; Alice Amsden, 'Third world industrialisation; "global Fordism" or a new model', New Left Review, July/August 1990.
12. Johnson, MITI and the Japanese Miracle; Johnson, 'Political institutions and economic performance'.
13. Johnson, MITI and the Japanese Miracle; Johnson, 'Political institutions and economic performance'.
14. World Bank, Oxford, Oxford University Press, 1994.
15. UNCTAD, Trade and Development Report, Geneva, UNCTAD, 1994.
16. G Gereffi and D Wyman, 'Determinants of developmental strategies in Latin America and East Asia', Pacific Dynamics: The International Politics of Industrial Change, S Haggard and C I Moon (eds), Boulder, CO, Westview Press, 1989; G Gereffi and D Wyman (eds), Manufacturing Miracles: Paths of Industrialization in Latin America and East Asia, Princeton, NJ, Princeton University Press, 1990; S Haggard, 'The East Asian NICs in comparative perspective', The Pacific Region: Challenges to Policy and Theory, P Gourevitch (ed), The Annals of the American Academy of Political and Social Science, 1989; S Haggard, Pathways from the Periphery: The Politics of Growth in the Newly Industrializing Countries, Ithaca, NY, Cornell University Press.
17. G Gereffi and D Wyman, 'Determinants of developmental strategies in Latin America and East Asia', Pacific Dynamics: The International Politics of Industrial Change, S Haggard and C I Moon (eds), Boulder, CO, Westview Press, 1989; G Gereffi and D Wyman (eds), Manufacturing Miracles: Paths of Industrialization in Latin America and East Asia, Princeton, NJ, Princeton University Press, 1990; S Haggard, 'The East Asian NICs in comparative perspective', The Pacific Region: Challenges to Policy and Theory, P Gourevitch (ed), The Annals of the American Academy of Political and Social Science, 1989; S Haggard, Pathways from the Periphery: The Politics of Growth in the Newly Industrializing Countries, Ithaca, NY, Cornell University Press.
18. G Gereffi and D Wyman, 'Determinants of developmental strategies in Latin America and East Asia', Pacific Dynamics: The International Politics of Industrial Change, S Haggard and C I Moon (eds), Boulder, CO, Westview Press, 1989; G Gereffi and D Wyman (eds), Manufacturing Miracles: Paths of Industrialization in Latin America and East Asia, Princeton, NJ, Princeton University Press, 1990; S Haggard, 'The East Asian NICs in comparative perspective', The Pacific Region: Challenges to Policy and Theory, P Gourevitch (ed), The Annals of the American Academy of Political and Social Science, 1989; S Haggard, Pathways from the Periphery: The Politics of Growth in the Newly Industrializing Countries, Ithaca, NY, Cornell University Press.
19. G Gereffi and D Wyman, 'Determinants of developmental strategies in Latin America and East Asia', Pacific Dynamics: The International Politics of Industrial Change, S Haggard and C I Moon (eds), Boulder, CO, Westview Press, 1989; G Gereffi and D Wyman (eds), Manufacturing Miracles: Paths of Industrialization in Latin America and East Asia, Princeton, NJ, Princeton University Press, 1990; S Haggard, 'The East Asian NICs in comparative perspective', The Pacific Region: Challenges to Policy and Theory, P Gourevitch (ed), The Annals of the American Academy of Political and Social Science, 1989; S Haggard, Pathways from the Periphery: The Politics of Growth in the Newly Industrializing Countries, Ithaca, NY, Cornell University Press.
20. Bruce Cumings, 'The origins and development of the northeast Asian political economy', International Organization, 38(1), Winter 1984; also in F Deyo (ed), The Political Economy of the New Asian Industrialism, Ithaca, NY, Cornell University Press, 1987; Haggard, Pathways from the Periphery, 1990; Gereffi and Wyman, Manufacturing Miracles, 1990; B K Gills, 'The international origins of South Korea's export orientation', Transcending the State-Global Divide: A Neurostructuralist Agenda in International Relations, R Palan and Barry Gills (eds), London, Lynne Rienner, 1993; Barry Gills and Ronen P Palan, 'The neostructuralist agenda in international relations', in Palan and Gills (eds), Transcending the State Global Divide.
21. Bruce Cumings, 'The origins and development of the northeast Asian political economy', International Organization, 38(1), Winter 1984; also in F Deyo (ed), The Political Economy of the New Asian Industrialism, Ithaca, NY, Cornell University Press, 1987; Haggard, Pathways from the Periphery, 1990; Gereffi and Wyman, Manufacturing Miracles, 1990; B K Gills, 'The international origins of South Korea's export orientation', Transcending the State-Global Divide: A Neurostructuralist Agenda in International Relations, R Palan and Barry Gills (eds), London, Lynne Rienner, 1993; Barry Gills and Ronen P Palan, 'The neostructuralist agenda in international relations', in Palan and Gills (eds), Transcending the State Global Divide.
22. Bruce Cumings, 'The origins and development of the northeast Asian political economy', International Organization, 38(1), Winter 1984; also in F Deyo (ed), The Political Economy of the New Asian Industrialism, Ithaca, NY, Cornell University Press, 1987; Haggard, Pathways from the Periphery, 1990; Gereffi and Wyman, Manufacturing Miracles, 1990; B K Gills, 'The international origins of South Korea's export orientation', Transcending the State-Global Divide: A Neurostructuralist Agenda in International Relations, R Palan and Barry Gills (eds), London, Lynne Rienner, 1993; Barry Gills and Ronen P Palan, 'The neostructuralist agenda in international relations', in Palan and Gills (eds), Transcending the State Global Divide.
23. Bruce Cumings, 'The origins and development of the northeast Asian political economy', International Organization, 38(1), Winter 1984; also in F Deyo (ed), The Political Economy of the New Asian Industrialism, Ithaca, NY, Cornell University Press, 1987; Haggard, Pathways from the Periphery, 1990; Gereffi and Wyman, Manufacturing Miracles, 1990; B K Gills, 'The international origins of South Korea's export orientation', Transcending the State-Global Divide: A Neurostructuralist Agenda in International Relations, R Palan and Barry Gills (eds), London, Lynne Rienner, 1993; Barry Gills and Ronen P Palan, 'The neostructuralist agenda in international relations', in Palan and Gills (eds), Transcending the State Global Divide.
24. Bruce Cumings, 'The origins and development of the northeast Asian political economy', International Organization, 38(1), Winter 1984; also in F Deyo (ed), The Political Economy of the New Asian Industrialism, Ithaca, NY, Cornell University Press, 1987; Haggard, Pathways from the Periphery, 1990; Gereffi and Wyman, Manufacturing Miracles, 1990; B K Gills, 'The international origins of South Korea's export orientation', Transcending the State-Global Divide: A Neurostructuralist Agenda in International Relations, R Palan and Barry Gills (eds), London, Lynne Rienner, 1993; Barry Gills and Ronen P Palan, 'The neostructuralist agenda in international relations', in Palan and Gills (eds), Transcending the State Global Divide.
25. Bruce Cumings, 'The origins and development of the northeast Asian political economy', International Organization, 38(1), Winter 1984; also in F Deyo (ed), The Political Economy of the New Asian Industrialism, Ithaca, NY, Cornell University Press, 1987; Haggard, Pathways from the Periphery, 1990; Gereffi and Wyman, Manufacturing Miracles, 1990; B K Gills, 'The international origins of South Korea's export orientation', Transcending the State-Global Divide: A Neurostructuralist Agenda in International Relations, R Palan and Barry Gills (eds), London, Lynne Rienner, 1993; Barry Gills and Ronen P Palan, 'The neostructuralist agenda in international relations', in Palan and Gills (eds), Transcending the State Global Divide.
26. Gereffi and Wyman, Manufacturing Miracles, 1990.
27. International Herald Tribune, 'Globalise or die!', 4 September 1994.
28. S Haggard and T Cheng, 'The new bilateralism: East Asian NICs in American foreign economic policy', Pacific Dynamics: The International Politics of Industrial Change, S Haggard and C I Moon (eds), Boulder, CO, Westview Press, 1989; Walden Bello, Dark Victory, London, Pluto Press, 1994; Walden Bello and Shea Cunningham, 'Trade warfare and regional integration in the Pacific: the USA, Japan and the Asian NICs', Third World Quarterly, Vol. 15, no. 3, 1994.
29. S Haggard and T Cheng, 'The new bilateralism: East Asian NICs in American foreign economic policy', Pacific Dynamics: The International Politics of Industrial Change, S Haggard and C I Moon (eds), Boulder, CO, Westview Press, 1989; Walden Bello, Dark Victory, London, Pluto Press, 1994; Walden Bello and Shea Cunningham, 'Trade warfare and regional integration in the Pacific: the USA, Japan and the Asian NICs', Third World Quarterly, Vol. 15, no. 3, 1994.
30. S Haggard and T Cheng, 'The new bilateralism: East Asian NICs in American foreign economic policy', Pacific Dynamics: The International Politics of Industrial Change, S Haggard and C I Moon (eds), Boulder, CO, Westview Press, 1989; Walden Bello, Dark Victory, London, Pluto Press, 1994; Walden Bello and Shea Cunningham, 'Trade warfare and regional integration in the Pacific: the USA, Japan and the Asian NICs', Third World Quarterly, Vol. 15, no. 3, 1994.
31. Personal interviews, Seoul, Republic of Korea, Summer 1994.
32. Ibid.
33. Mark Clifford, Troubled Tiger: Businessmen, Bureaucrats and Generals in South Korea, M E Sharpe, 1994.
34. I acknowledge my debt to Jonathan Moran for bringing this point to my attention.
35. Barry Gills, 'Korean Capitalism and democracy' in Barry Gills, Joel Rocarmora and Richard Wilson, (eds) Low Intensity Democracy: Political Power in the New World Order, London Pluto Press, 1993, pp. 226-257. Robert E. Bedeski, The Transformation of South Korea: reform and reconstruction in the Sixth Republic under the Rah Tae Woo 1987-1992. London and New York, Routledge, 1994
36. Barry Gills, 'Korean Capitalism and democracy' in Barry Gills, Joel Rocarmora and Richard Wilson, (eds) Low Intensity Democracy: Political Power in the New World Order, London Pluto Press, 1993, pp. 226-257. Robert E. Bedeski, The Transformation of South Korea: reform and reconstruction in the Sixth Republic under the Rah Tae Woo 1987-1992. London and New York, Routledge, 1994
37. Foreign Ministry of the Republic of Korea, 'Fundamentals of Korea's new diplomacy', An address delivered by Foreign Minister Han Sung-Joo to Korean Council on Foreign Relations, May 1993.
38. Foreign Ministry of the Republic of Korea, 'Post-UR international order and Korea's foreign policy', An address delivered by Foreign Minister Han Sung-Joo to Korean Council on Foreign Relations, 12 May 1994.
39. Ibid.
40. Kwon Okyu, Director, Regional Cooperation Division I, International Economic Policy Bureau, Economic Planning Board, 'The Economic Globalization Plan for Remaking the Korean Economy', Republic of Korea Economic Bulletin, July 1994, EPB/KDI.
41. The Korea Times, 24 December 1994.
42. Ibid.
43. Kwon Okyu, 'The Economic Globalization Plan...'.
44. Ibid.
45. Financial Times Survey: South Korea: Trade, Industry, Finance, 20 October 1995, pp. 31-36.
46. Winfried Ruigrok and Rob Van Tulder, The Logic of International Restructuring, London, Routledge, 1996; Thomson and Hirst, Globalisation in Question, 1996; R J Barry Jones, Globalisation and Interdependence, 1996.
47. Winfried Ruigrok and Rob Van Tulder, The Logic of International Restructuring, London, Routledge, 1996; Thomson and Hirst, Globalisation in Question, 1996; R J Barry Jones, Globalisation and Interdependence, 1996.
48. Winfried Ruigrok and Rob Van Tulder, The Logic of International Restructuring, London, Routledge, 1996; Thomson and Hirst, Globalisation in Question, 1996; R J Barry Jones, Globalisation and Interdependence, 1996.
49. Walden Bello and Stephanie Rosenfeld, Dragons in Distress, Harmondsworth, Penguin, 1990.
50. Paul Krugman, 'The myth of Asia's miracle', Foreign Affairs, 73(6), 1994, pp, 67-78.
51. Financial Times Survey, 20 October 1995.
52. Personal interview, 1994.
53. Financial Times Survey, 20 October 1995.
54. Kwon Okyu, 'The Economic Globalization Plan...'.
55. P Evans, 'Dependency and the state in recent Korean development: some comparison with Latin American NICs', Dependency Issues in Korean Development: Comparative Perspectives, K D Kim (ed), Seoul, Seoul National University Press, 1987.
56. Clifford, Troubled Tiger, 1994.
57. The Korea Herald, 5 January 1996.
58. The Korea Times, 1 September 1996.
59. The Korea Times, 29 August 1996.