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State-led development reconsidered: the political economy of state transformation in East Asia since the 1990s

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  • Henry Wai-chung Yeung

Abstract

This article reconsiders state-led development in the changing political context of the East Asian economies of South Korea, Taiwan and Singapore. Grounded in a political economy approach advanced by the late Alice Amsden and others, I argue that since the late 1980s, the developmental state faced significant challenges of managing the greater desire for democracy and welfare from domestic interest groups and social movements. These three East Asian economies began to adjust and adapt to a new political economy in which the state could no longer wield autonomous power in governing the market and directing the growth trajectories of national firms.

Suggested Citation

  • Henry Wai-chung Yeung, 2017. "State-led development reconsidered: the political economy of state transformation in East Asia since the 1990s," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 10(1), pages 83-98.
    • Handle: RePEc:oup:cjrecs:v:10:y:2017:i:1:p:83-98.
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    File URL: http://hdl.handle.net/10.1093/cjres/rsw031
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    References listed on IDEAS

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    1. Wan-Soon Kim & You-il Lee, 2007. "The Korean Economy," Books, Edward Elgar Publishing, number 4261.
    2. Chung, Young-Iob, 2007. "South Korea in the Fast Lane: Economic Development and Capital Formation," OUP Catalogue, Oxford University Press, number 9780195325454.
    3. Chang,Sea-Jin, 2003. "Financial Crisis and Transformation of Korean Business Groups," Cambridge Books, Cambridge University Press, number 9780521814355, November.
    4. Alice H. Amsden, 2007. "Escape from Empire: The Developing World's Journey through Heaven and Hell," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012340, December.
    5. Haggard, Stephan & Zheng, Yu, 2013. "Institutional innovation and investment in Taiwan: the micro-foundations of the developmental state," Business and Politics, Cambridge University Press, vol. 15(4), pages 435-466, December.
    6. Coe, Neil M. & Yeung, Henry Wai-chung, 2015. "Global Production Networks: Theorizing Economic Development in an Interconnected World," OUP Catalogue, Oxford University Press, number 9780198703914.
    7. Alice H. Amsden & Wan-wen Chu, 2003. "Beyond Late Development: Taiwan's Upgrading Policies," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011980, December.
    8. Kwang-Yeong Shin, 2012. "The Dilemmas of Korea's New Democracy in an Age of Neoliberal Globalisation," Third World Quarterly, Taylor & Francis Journals, vol. 33(2), pages 293-309.
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    Cited by:

    1. Basakha, Mehdi & Hossein Mohaqeqi Kamal, Seyed, 2019. "Industrial development and social welfare: A case study of Iran," Socio-Economic Planning Sciences, Elsevier, vol. 68(C).
    2. Cheang, Bryan, 2024. "Why mission-directed governance risks authoritarianism: lessons from East Asia," LSE Research Online Documents on Economics 125640, London School of Economics and Political Science, LSE Library.
    3. Judith Clifton & Amy Glasmeier & Alpen Sheth, 2017. "Revisiting development theory: Alice H. Amsden’s impact on the field," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 10(1), pages 3-14.

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    More about this item

    Keywords

    developmental state; political economy; industrial transformation; East Asia; South Korea; Taiwan; Singapore;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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