Financial restriction and the developmental state in East Asia - Toward a more complex political economy

被引:4
作者
Lukauskas, A [1 ]
机构
[1] Columbia Univ, Sch Int & Publ Affairs, Picker Ctr, Program Int Econ Policy & Management, New York, NY 10027 USA
关键词
D O I
10.1177/0010414002035004001
中图分类号
D0 [政治学、政治理论];
学科分类号
0302 ; 030201 ;
摘要
Recent financial crises in Asia have renewed debates over the appropriate degree and scope of government intervention in financial markets, Governments in two countries affected by financial crises, Japan and South Korea, have historically implemented extensive controls over the financial system. Here, the author asks: What motivated government officials in these countries to implement financial restriction and to keep it so long? Why did Japan and South Korea apparently succeed unlike other countries? It is argued that East Asian officials designed financial policy in part to appease powerful social groups, like banks and industry, and to advance their own political goals. Their intervention produced better results than elsewhere because political and security imperatives to promote rapid industrialization and growth restricted the degree of inefficiency introduced into financial regulation. This study's findings thus highlight the importance of a nation's political institutions and security context in shaping incentives facing public officials.
引用
收藏
页码:379 / 412
页数:34
相关论文
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