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Crony Capitalism
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  • 11 b/w illus. 56 tables
  • Page extent: 0 pages
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 (ISBN-13: 9780511029264 | ISBN-10: 0511029268)

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Why has the literature on Asian development not addressed the issue of money politics in Korea? How can we reconcile the view of an efficient developmental state in Korea before 1997 with reports of massive corruption and inefficiency in that same country in 1998 and 1999? Politics is central to the answer. This study argues that both Korea and the Philippines experienced significant corruption throughout the post-independence era, and that political--not economic--considerations dominated policy making in both countries.

Contents

List of figures; List of tables; Acknowledgements; 1. The puzzle and the theory; 2. Comparing Korea and the Philippines; 3. Institutions: bureaucrats and rulers; 4. Mutual Hostages in Korea; 5. Bandwagon politics in the Philippines; 6. Democracy in the 1980s and the financial crisis of 1997; 7. Conclusion: corruption and development; Index.

Reviews

"David Kang's recent book Crony Capitalism is deserving of special commendation and attention for its crisp and clear coverage of two cases, the Philippines and South Korea." The Review of Politics

"His hypothesis is indeed intriguing and innovative.... Crony Capitalism is a valuable contribution to the growing literature on the state's role in development and on the business-state relation in Korea's economy. It is among the first substantive comparative studies of Korea and another nation within Southeast Asia." Business History Review

"This comparative approach is a critical starting point in analyzing two societies...This book is useful for understanding the challenges faced by a developing state." Pacific Affairs

"Kang's approach fits within the genre of studies on developmental states, and most closely complements Alice Amsden's Asia's Next Giant. But it reaches beyond this analysis and sets a new research course by providing political explanations for both successes and failures of the developmental state. Recommended for general readers and upper-division undergraduates and above." Choice

"David Kang's book gives excellent succor to the field of East Asian political economy, squarely dealing with both development and crisis and presenting a balanced analysis of what went right and what went wrong." Perspectives on Politics

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