Race to the Swift

State and Finance in Korean Industrialization

By: Jung-en Woo

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Paperback | 12 November 1992 | Edition Number 1

At a Glance

Paperback
280 Pages

Age
22+

Dimensions(cm)
2.28 x 1.55 x 0.18

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Jung-en Woo argues that Korea's industrial growth is neither a miracle nor a cultural mystery, but the outcome of a previously misunderstood political economy. She explains the rise of the developmental state in the last half century, showing how the state deployed financial resources to accumulate power, to compel swift industrialization, and to create a new class of entrepreneurs. The Korean state has moved from a dependent status to one of relative autonomy, using the flow of foreign capital to fund rising industries. The work specifies how a model of the developmental state has a finite tenure, as its historical role is eclipsed by new politics and economic demands, and concludes with a discussion of Reagan's East Asian policy, Japan's recent aid to Korea, and U.S. pressure for financial liberalization.

Industry Reviews

"One of the most provocative books written on the Korean economy in the past decade." -- "Far Eastern Economic Review"

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