Crony Capitalism: Corruption and Development in South Korea and the Philippines
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. In this book I make two arguments. First, both Korea and the Philippines experienced significant corruption throughout the post-independence era. Second, political--not economic--considerations dominated policy making in both countries.
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able actors allowed American Asia Asian attempts Bank billion billion won bureaucracy capital central chaebol Change civil coherent companies Comparative continued contrast corporate corruption costs countries created crisis cronies decisions democracy democratic Development domestic early economic edited elections elites example exchange existed exports Filipino firms forced foreign funds growth higher important industry influence institutions interests investment Japanese land largest leaders less loans major Manila Marcos martial law military Minister Ministry money politics North noted oligarchs organization Park Park Chung-hee party pattern percent percentage period Philippines Planning political politicians president reform regime relations relationship remained rent seeking result Rhee rule sector Seoul shows similar situation social society Source South Korea structures Table threat tion trade United University Press whereas World