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Moving past summary monetary types and superficial descriptions of the industry, Beyond the Developmental State analyses the commercial, political and ideological pursuits which underpin present socio-economic processes.
Through this strategy, the individuals convey the shut interrelation among states and markets in either nationwide and foreign contexts. Drawing on quite a lot of case stories and issues, the e-book exposes the theoretical and empirical barriers of the developmental kingdom paradigm, providing possible choices in addition to discussing the coverage implications and demanding situations they raise.
For students, scholars and practitioners of improvement, Beyond the Developmental State provides a decisive holiday with the outdated dogmas of either neoliberal orthodoxy and theories of 'market-imperfection', and descriptions theoretically and empirically grounded alternatives.
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Extra info for Beyond the Developmental State: Industrial Policy into the Twenty-first Century
Finally, the government gave POSCO the licence in 1978, and Kwangyang was selected as the location in 1981. 14 What is important is that this decision that the second integrated steelworks should be owned and operated by POSCO had the effect of maintaining POSCO’s monopolistic position over the production of both pig iron and steel from BOFs. In other words, the government regulated new entry so that POSCO could enjoy a monopolistic position in the upstream processes. Consequently, other EAF and rolling firms grew, depending upon this monopolistic industrial structure, and, in so doing, forged the structure.
Indeed, as suggested by the well-known saying ‘Steel is the nation’, the industry has often occupied a central position in the industrialisation process of a nation state. As such, its development has often been a crucial task for governments, not only economically but also politically. However, there is much less literature studying the steel industry than focusing on other manufacturing sectors, such as electronics and automobiles, as pointed out by Kawabata (2005). For, in the debate about the East Asian development experience, the literature tends to pick up on those industries whose development was associated with foreign direct investment (FDI) and export-oriented policy, neither of which has been prominent in the steel industry.
Shin (1996) strengthens this argument by adding that with one-party rule and the absence of the armed forces, the bureaucracy enjoyed autonomy, which enabled strong economic intervention. These arguments of the political school presume that there was wide room and sufficient power for the Japanese government to manoeuvre various policies for industries and to discipline firms, since it enjoyed autonomy, or embedded autonomy, free from the interests of various classes. 25) argue that Japan enjoyed ‘a unique initial condition of economic development’, that there was no dominant economic class.