Economic crises and augmenting financial bureaucratic power in South Korea.

Despite negative public opinion, the role of the Korean government has expanded, while overcoming two rounds of global financial crises. The phenomenon of the re-swelling state is mainly attributed to the strengthening of the central bureaucracy, in particular the financial bureaucracy, rather than...

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Publicado en:Pacific Review Vol. 31; no. 3; pp. 352 - 373
Autores principales: Lee, Yeonho, Kim, Hak-Ryul
Formato: Artículo
Publicado: Taylor & Francis Ltd May2018
Materias:
Acceso en línea:Ver este registro en EBSCOhost
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        atl: Economic crises and augmenting financial bureaucratic power in South Korea.
      aug:
        au:
          Lee, Yeonho
          Kim, Hak-Ryul
        affil:
          Political Science and International Studies, Yonsei University, Seoul, The Republic of Korea
          Institute of East and West Studies, Yonsei University, Seoul, The Republic of Korea
      su:
        South Korean politics & government, 2002-
        Economic conditions in South Korea
        Economic recovery
        Financial crises
        Global Financial Crisis, 2008-2009
        Financial services industry
        Financial services reform
        East Asia
      sug:
        subj:
          East Asia
          South Korean politics & government, 2002-
          Economic conditions in South Korea
          Economic recovery
          Financial crises
          Global Financial Crisis, 2008-2009
          Financial services industry
          Financial services reform
      keyword:
        financial bureaucracy
        financial crisis
        financial industry
        market-centered reform
        regulatory state
        South Korea
      ab: Despite negative public opinion, the role of the Korean government has expanded, while overcoming two rounds of global financial crises. The phenomenon of the re-swelling state is mainly attributed to the strengthening of the central bureaucracy, in particular the financial bureaucracy, rather than the whole central government or the state. The argument of <italic>the strengthening of the ‘state’ or the ‘government’ after economic crises</italic> might be subject to the error of generalization. Through the two rounds of economic crises, the financial bureaucracy succeeded in acquiring the authority of market supervision and industrial support. In consequence, the bureaucracy's institutional supremacy within the government grew less challenged. The central bureaucracy was no longer the loyal servant to the President. It has reinforced its institutional strength and autonomy vis-a-vis the President, the National Assembly, the Central Bank and civil society, under the pretext of building up the rational and autonomous market and democratic politics.
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    language: English
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