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Conclusion and Policy Implications

In: Newly Industrialising Economies and International Competitiveness

Author

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  • Doo-Jin Kim
  • Young-Chan Kim

Abstract

Our research provides an account of the questions of how, and to what extent, international trade regimes, especially EU trade policies, have had an impact on the market power of Korean electronics MNCs alongside the emergence of new technology involving knowledge-intensive technology. To explore this issue, we have utilised the notion of ‘big business’ as ‘market-maker’ rather than ‘market-taker’ to capture the empirical reality of Korea’s electronics MNCs, given the compelling significance of international competitiveness in recent years. While the nature of industry or industrialisation has changed, individual business organisation as exemplified by Samsung Electronics has tended to replace, or refashion, part of the market mechanism in the making of a meso-market. When it comes to an understanding of the wealth of nations, this paradigmatic shift exposed a theoretical deficiency in the dichotomised concept of the ‘market vs. the state’ that has been conventionally employed in academic disciplines such as global economy and comparative political economy.

Suggested Citation

  • Doo-Jin Kim & Young-Chan Kim, 2006. "Conclusion and Policy Implications," Palgrave Macmillan Books, in: Newly Industrialising Economies and International Competitiveness, chapter 7, pages 220-235, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-62670-6_7
    DOI: 10.1057/9780230626706_7
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