The political economy of financial liberalization in South Korea: State, big business, and foreign investors

Abstract

This paper studies the political economy of financial liberalization in Korea. We highlight the primary importance of state intervention in promoting financial liberalization. We shed light on "power games" of state, big business, and foreign investors emerging in state-led financial liberalization, and their impact on the Korean economy. © 2009 by The Regents of the University of California. All rights reserved.