"Mo and Weingast study three critical turning points in South Korea's remarkable transformation and offer a new view of how Korea was able to maintain pro-development policies with sustained growth by resolving repeated crises in favor of rebalancing and greater political and economic openness"--Provided by publisher.

This book looks at Korea's economic, social and spatial development processes from the early Modernisation period to the financial crisis of 1997. The author gives a comprehensive view of both Korea's economic miracle and recent problems.

Because the author sees South Korean development as contingent on a variety of particular circumstances, he ranges widely to include not only the information typically gathered by sociologists and political economists, but also insights gained from examining popular tastes and values, poetry, fiction, and ethnography, showing how all of these aspects of South Korean life help elucidate his main themes.

Over the past three decades, South Korea has moved along a path of strong economic growth and political democratization, attracting worldwide attention and providing valuable lessons for other developing economies. Yet Korea still must grapple with many intractable problems fueled by its rapid industrialization and uneven growth, including unbalanced distribution of wealth, concentrated economic power, and adversarial relationships between management and labor. Within the context of these sweeping changes, this volume explores options for economic and social institutional reform in Korea. Drawing on models of economic development from Japan, the United States, and Europe, a distinguished group of Asian and Western scholars relates the experiences of previously industrialized economies to each facet of Koreas economic system, including national management; taxation and banking; land ownership and use; trade and industrial strategy; and relations among business ownership, management, and labor. In so doing, the contributors provide valuable insights and fresh proposals for a viable model of social and economic modernization. Throughout the volume, the contributors emphasize the importance of Koreas cultural heritage-not only in explaining the nations recent growth but also as a key element of its continued success. By providing an overview of the evolution and interaction of Korean economic, political, and sociocultural institutions, the contributors make clear how these structures mediate the movement between cultural values and economic progress.

"South Korea has been held out as an economic miracle—as a country that successfully completed the transition from underdeveloped to developed country status—and as an example of how a middle-income country can continue to move up the technology ladder into the production and export of more sophisticated goods and services. But with these successes have come challenges, among them poverty, inequality, long work hours, financial instability, and complaints about the economic and political power of the country’s large corporate conglomerates, or chaebol. The Korean Economy provides an overview of Korean economic experience since the 1950s, with a focus on the period since democratization in 1987. Successive chapters analyze the Korean experience from the perspectives of political economy, the growth record, industrial organization and corporate governance, financial development and instability, labor and employment, inequality and social policy, and Korea’s place in the world economy. A concluding chapter describes the country’s economic challenges going forward and how they can best be met. The volume also serves to summarize the findings of companion volumes in the Harvard–Korean Development Institute series on the Korean economy, also published by the Harvard University Asia Center."

The condensed social change and complex social order governing South Koreans’ life cannot be satisfactorily delineated by relying on West-derived social theories or culturalist arguments. Nor can various globally eye-catching traits of this society in industrial work, education, popular culture, and a host of other areas be analyzed without developing innovative conceptual tools and theoretical frameworks designed to tackle the South Korean uniqueness directly. This book provides a fascinating account of South Korean society and its contemporary transformation. Focusing on the family as the most crucial micro foundation of South Korea’s economic, social, and political life, Chang demonstrates a shrewd insight into the ways in which family relations and family based interests shape the structural and institutional changes ongoing in South Korea today. While the excessive educational pursuit, family-exploitative welfare, gender-biased industrialization, virtual demise of peasantry, and familial industrial governance in this society have been frequently discussed by local and international scholarship, the author innovatively explicates these remarkable trends from an integrative theoretical perspective of compressed modernity. The family-centered social order and everyday life in South Korea are analyzed as components and consequences of compressed modernity. South Korea under Compressed Modernity is an essential read for anyone studying Contemporary Korea or the development of East Asian societies more generally.

This volume brings together work by international scholars to provide a unique analysis of the past, present and possible future trajectory of Korea's political economy from a distinctly Marxist perspective. The volume differentiates the Marxian approach to the political economy of Korean development from the Keynesian, social democratic approach that currently dominates the critical literature. In doing so the volume provides a unique view of the development of the South Korean Economy.

Politics in North and South Korea provides students with a comprehensive understanding of the political dynamics of the two Koreas. Giving equal weight to North and South Korea, the authors trace the history of political and economic development and international relations of the Korean peninsula, showing how South Korea became democratized and how Juche ideology has affected the establishment and operation of a totalitarian system in North Korea. Written in a straightforward, jargon free manner, this textbook utilizes both historical-institutional approaches and quantitative evidence to analyse the political dimensions of a wide variety of issues including: Legacies of early-twentieth-century Japanese colonial rule South Korean democratization and democratic consolidation South Korean diplomacy and North Korean nuclear crises The economic development of both North and South Korea The three-generation power succession in North Korea North Korean human rights issues Inter-Korean relations and reunification This textbook will be essential reading for students of Korean Politics and is also suitable for undergraduate and postgraduate courses on East Asian Politics, Asian Studies, and International Relations.

Following the death of Kim Jong Il, North Korea has entered a period of profound transformation laden with uncertainty. This authoritative book brings together the world's leading North Korea experts to analyze both the challenges and prospects the country is facing. Drawing on the contributors' expertise across a range of disciplines, the book examines North Korea's political, economic, social, and foreign policy concerns. Considering the implications for Pyongyang's transition, it focuses especially on the transformation of ideology, the Worker's Party of Korea, the military, effects of the Arab Spring, the emerging merchant class, cultural infiltration from the South, Western aid, and global economic integration. The contributors also assess the impact of North Korea's new policies on China, South Korea, the United States, and the rest of the world. Comprehensive and deeply knowledgeable, their analysis is especially crucial given the power consolidation efforts of the new leadership underway in Pyongyang and the implications for both domestic and international politics. Contributions by: Nicholas Anderson, Charles Armstrong, Bradley Babson, Victor Cha, Bruce Cumings, Nicholas Eberstadt, Ken Gause, David Kang, Andrei Lankov, Woo Young Lee, Liu Ming, Haksoon Paik, Kyung-Ae Park, Terence Roehrig, Jungmin Seo, and Scott Snyder.

This book studies the sources of inequality in contemporary South Korea and the social and political contention this engenders. Korean society is becoming more polarized. Demands for ‘economic democratization’ and a fairer redistribution of wealth occupy centre-stage of political campaigns, debates and discourse. The contributions offer perspectives on this wide-ranging socio-political change by examining the transformation of organized labour, civil society, the emergence of new cleavages in society, and the growing ethnic diversity of Korea’s population. Bringing together a team of scholars on Korea’s transition and democratization, the story the books tells is one of a society acutely divided by the neo-liberal policies that accompanied and followed the Asian financial crisis. Taken together, the contributions argue that tackling inequalities are challenges that Korean policy-makers can no longer postpone. The solution, however, cannot be imposed, once again, from the top down, but needs to arise from a broader conversation including all segments of Korean society. The book is intended for a readership interested in South Korean politics specifically, and global experiences in transition more generally.