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Korean Political and Economic Development - Crisis, Security, and Institutional Rebalancing (Hardcover, New)
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Korean Political and Economic Development - Crisis, Security, and Institutional Rebalancing (Hardcover, New)
Series: Harvard East Asian Monographs
Expected to ship within 12 - 17 working days
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How do poor nations become rich, industrialized, and democratic?
And what role does democracy play in this transition? To address
these questions, Jongryn Mo and Barry R. Weingast study South
Korea's remarkable transformation since 1960. The authors
concentrate on three critical turning points: Park Chung Hee's
creation of the development state beginning in the early 1960s,
democratization in 1987, and the genesis of and reaction to the
1997 economic crisis. At each turning point, Korea took a
significant step toward creating an open access social order. The
dynamics of this transition hinge on the inclusion of a wide array
of citizens, rather than just a narrow elite, in economic and
political activities and organizations. The political economy
systems that followed each of the first two turning points lacked
balance in the degree of political and economic openness and did
not last. The Korean experience, therefore, suggests that a society
lacking balance cannot sustain development. Korean Political and
Economic Development offers a new view of how Korea was able to
maintain a pro-development state with sustained growth by resolving
repeated crises in favor of rebalancing and greater political and
economic openness.
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