State-market realignment in post-crises east asia

Alvin Y. So and Stephen Wing-kai Chiu

in Repositioning the Hong Kong Government

Published by Hong Kong University Press

Published in print March 2012 | ISBN: 9789888083497
Published online September 2012 | e-ISBN: 9789882209107 | DOI:
State-market realignment in post-crises east asia

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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

Chapter.  5718 words. 

Subjects: Asian History

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