Korean latin amer. economics – Сustom Literature essay

"Theeffectiveness of the Asian NICs depends on sophisticated industrialpolicies and selective protectionism, but, because of the extremely diverseinstitutions and policies of the Asian NICs, a common 'Asian system' cannotbe denominated" (Mommen, 1996, p. What matters is that pragmatism seems on the whole tohave paid off in better results than has ideological consistancy. Such a drop-off thus does not demonstrate a failure of the Korean orother Asian models of development. In the 195 s, Sovieteconomic managers made a rational-seeming guess that heavy industrialproduction would be the key to development, as it had been in the firsthalf of the century, and indeed the growth of Soviet steel production wasonce widely heralded as a sign that the USSR was overtaking the West ineconomic development.

The growth of the emergent developed nations differs in a fundamentalway from that of the original developed world; whereas the latter weregoing into uncharted terrain, the newly industrialized countries arefollowing an established model:"If industrialization first occurred in England on the basis of invention, and if it occurred in Germany and the United States on the basis ofinnovation, then it occurs now among 'backward' countries on the basis oflearning" (Amsden, 1989, p. the state has exercised disciplineover subsidy recipients" (Amsden, 1989, p.

Tariff protection and importsubstitution became characteristic development strategies, and the resultby the 196 s was the formation of industrial sectors, particularly in lightindustry and consumer goods, that had become an established part of theelite coalition, and were strongly motivated to protect themselves fromforeign competition. The transition in the political economy ofSouth Korean development. It is appropriate here to turn to another question raised byimplication earlier in this discussion, namely whether a strong, i. e. autonomous state necessarily requires an authoritarian one.

However, it was in EastAsia, most notably South Korea, that the most remarkable developmenttransition was seen; countries that had been among the world's poorest asrecently as the 195 s were by the 198 s approaching full parity with thedeveloped world. Elites of all sorts may try to enhance their rents, orcoalitions among different sectors to divide the pie among themselves. Whatever economic strategy a state adopts, the ability to carry outthe chosen strategy--again, whether dirigiste or neoliberal--dependsfundamentally on the autonomy of economic policymakers. Even apart from its quasi-racialovertones, this theory has been criticized on historical grounds: Simplistic cultural arguments run into a variety of problems. First, regions are not cultural homogenous...

Much the same could be saidof Chile, Argentina, and other Latin American countries. The core's emphasis on the service sector and on the most productive, high-value-added segments of manufacturing [means that] ironically, as more and more countries in the world are becoming industrialized, industrialization itself is losing the key status it once had as an ultimate hallmark of national development... Journal of Northeast Asian Studies, 12, pp.74-86.----------------------- 25 As was noted earlier in this discussion, industrialization per se isno longer to be regarded as an index of development.

(1988, Fall-Winter). If, then, Confucianism is somehow at the root of East Asian success, why did that success not become manifest until the 196 s and 197 s. Contrariwise, if a deep-rooted Ibero-Catholic tradition is somehow to blamefor Latin America's ills, why has the region made such considerableprogress in the 198 s and 199 s? The private entrepreneur of lateindustrialization is a pale reflection of the heroic figure of the past (Amsden, 1989, p.112). It is difficult, indeed, to identify any Asian tradition of development theory as such.

While we can identify common elements of East Asian development strategy, and find a large body of work by Asians discussing strategy and experience, this work tends to offer a praxis rather than a theory. Thus the chaebol were not in a position toescape discipline at the hands of government economic planners. The linchpin of this success, as suggested earlier, was the scope ofstate planners' independence from interest groups (Haggard, 199 , p. Inany case, as suggested by Haggard, this path is closely related to theexport-led strategy typified by Korea.

What is meant by a strong state, then, is not simply one that has thepotential to wield its police powers--all states have such powers, with thesole and unhappy exception of "failed states," where civil war prevails andeconomic predation of the most blatant sort is the operative rule. the salaried managers have carried the burdenof implementing investment decisions because it is they who hold thetechnical expertise. 3 6-319.

Kim, H. (1989). As a result of late but rapid industrialization, thereemerged a balance of class power between the capitalist group and the working and the middle classes that is the core of democratic transition (Pyo, 1993, p. industrialization and development are not synonymous(Gereffi, 1994, p. The significant point here is that the different Latin American andEast Asian styles of thinking about development seem to mirror differentapproaches to policy.

Ithaca, NY: Cornell.________, and Moon, C (1993). It is accordingly these countries that have attractedgreat attention for their development experience and the lessons it mayoffer for other developing regions. Asian Survey, 35, pp.

At thesame time, government control of peasant organizations in South Koreaeffectively limited peasant influence as a political factor. Whether the choice of ideological consistancy or pragmatism is insome way rooted in "Ibero-Catholic" or "Confucian" culture of philosophy isperhaps irrelevant. Only astrong state can persist in a strategy, including neoliberalism, in theface of internal social and political pressures.

It is sufficient to note here that, by the 197 s, LatinAmerican economic thinkers were acutely aware of the failure of thetraditional import-substitution strategy, and particularly of its role inmaking economic policy a captive of established interests. State willingness or unwillingness to exert strategic and independent direction over the private sector, and especiallyover large economic conglomerates, has been an important factor in the pro-industrial character of outwardliberalization policies in South Korea and in the financial-speculative character of economic liberalizationpolicies in Chile (Kim and Geisse, 1988, p. In Meller, P., ed., The Latin American Development Debate: Neostructuralism, Neomonetarism, and Adjustment Processes.

15). But just as authoritarian statesare not always strong or autonomous, it is possible for a democratic regimeto be both strong and autonomous. 8). 3) From this consideration, the neoliberal goes on to make a basicargument that rewards and punishments, however rational and even well-guessed, can hardly outperform the market itself. (1991).

Nora Lustig speaks of "thenumerous intellectual efforts undertaken by Latin American authors tounderstand the economic phenomena of the region" (Lustig, 1991, p. such adoctrinaire attitude to economic policy management contrasted sharplywith the highly pragmatic attitude displayed by the authorities in Taiwan and South Korea" (Lin, 1989, p.

That South Korea was successful in this enterprise, and in fact wentin a generation from one of the world's poorest countries to a place amongthe world's rich ones is, in the eyes of the critics of neoliberalism, themost powerful emperical argument that neoliberal theory is incorrect, or atleast incomplete. InJilberto, A.

E. F., and Mommen, A.

In any case, the outcomes of the liberalization programs were quitedifferent. Pathways from the Periphery: The Politics of Growthin the Newly Industrializing Countries. Put more simply, as South Korea became a largely middle-classsociety, pressure for democratization grew to the point whereauthoritarianism was no longer viable. 27).

For example, dependency theory originated in Latin America, though itsvocabulary of core, periphery, dependent development, and the like havebecome part of the international language of development theory. The following discussion will bedevoted to an evaluation of the Korean development experience, inparticular comparison to that of Latin America.

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