The Transformation of the Developmental State and Economic Reform in Korea

Abstract

This paper analyses the political economy of economic reform and the ways in which the characteristics of developmental states have been changed in this reform process. It does this with attention to the experience of structural transformation in the manufacturing, information technology and financial sectors in Korea. Using the coalition theory of policy reform, the main finding from these cases is that the relationships among politicians, bureaucrats and interest groups have been altered so that interest groups' power has been strengthened compared to politicians and bureaucrats. Although a crisis is important in promoting economic reform, broader-ranging trends, such as democratisation, globalisation and technological progress, have also been important fundamental forces. Even with change, the reform process in Korea continues to reflect the legacies of the developmental state, with the state still playing an important role in planning, implementing and sustaining economic reform.

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