Projecting the Arena of Inclusion: The Case of South Korea in Pursuing a Phased Inclusive Growth Process

Wong, Chan‐Yuan; Lee, Keun

doi:10.1111/ropr.12286

Cited by 8 publications

(4 citation statements)

References 51 publications

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“…The share of public expenditures on social protection as a percentage of GDP reached 2% in the early 2000s and then tripled to 6% in 2014. This remarkable jump far outpaces the growth rate of the R&D to GDP ratio, which was 2% in the early 2000s, 3% in the late 2000s, and then 4% in the mid-2010s (Wong and Lee 2018).…”

Section: Social Well-being Indicators: Korea As "Safe Capitalism"mentioning

confidence: 97%

“…1-2). Although Korea's welfare expenditures are relatively low by comparison, the positive indicators outlined above seem to be a result of the country's increasing welfare expenditures since the 1990s, which have contributed to stopping the rise of the Gini coefficient in the country since the 2010s (Wong and Lee 2018). The share of public expenditures on social protection as a percentage of GDP reached 2% in the early 2000s and then tripled to 6% in 2014.…”

Section: Social Well-being Indicators: Korea As "Safe Capitalism"mentioning

confidence: 98%

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Compressed development, decompression, and diverging convergence in South Korea: which varieties of capitalism in contemporary Korea?

Lee,

Kim

2024

Rev Evol Polit Econ

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South Korea has achieved compressed growth and convergence of its income level to that of typical advanced economies. This paper adopts a narrow definition of compressed development as a form of late development that lacks political democracy and open markets, and then defines decompression as the process of democratization and economic liberalization. This paper applies this framework of “compressed development, decompression, and diverging convergence” to analyze the dynamics of Korean capitalism since the 1980s after the death of the modernizer-dictator, President Park. First, the middle class emerged in Korea in the 1980s as a result of compressed growth since the 1960s and served as a key intermediary in linking economic growth to democratization. The process of political decompression, or democratization, was peaceful because it was demanded and led not by the working class but by the middle class. Second, an ill-managed first wave of economic decompression (liberalization) led to a financial crisis, and then, the post-crisis reforms (the second, more radical decompression) imposed by the IMF planted the institutional seeds for convergence with Anglo-American capitalism. Third, Korea is experiencing the end of the East Asian miracle, as evidenced by slowing growth and rising inequality, and is undergoing a multifaceted convergence toward different varieties of capitalism. In terms of life expectancy and crime rates, Korea joins Japan, Italy, and Spain in the “safe capitalism” group, while it is an extreme outlier in terms of its large gender wage gap and long working hours. In terms of unemployment and long-term employment rates, Korea is closer to the Anglo-American model, but closer to Europe in terms of the degree of active (or passive) labor market policies and legal protection against layoffs. Korea seems to be realizing “divergent convergence” as it remains distinct from any particular form of Western capitalism.

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Section: Social Well-being Indicators: Korea As "Safe Capitalism"mentioning

confidence: 97%

Section: Social Well-being Indicators: Korea As "Safe Capitalism"mentioning

confidence: 98%

Compressed development, decompression, and diverging convergence in South Korea: which varieties of capitalism in contemporary Korea?

Lee,

Kim

2024

Rev Evol Polit Econ

Self Cite

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“…Koreans also invented printing. The Jikji, which is the world's old- This economic prosperity also led to a reduction in inequality (Wong & Lee, 2018), which was associated with the rise of a welleducated, hard-working, and better-paid middle class. However, the newly rising middle class viewed rule by an ex-military president unfavorably, and the demand for democracy continued to increase (Eichengreen et al, 2015, p. 27).…”

Section: A Very Brief History Of Koreamentioning

confidence: 99%

Innovation–Development Detours for Latecomers

Lee

2024

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Many developing countries still face difficulties initiating and sustaining economic development. Such difficulties have been exacerbated by the COVID-19 pandemic, resulting in an increasing divergence between rich and poor countries. One crucial question is whether to follow the trajectories of present-day rich countries or seek out different, new trajectories. Although this is a fundamental question, scholars offering mainstream prescriptions have not sufficiently explored it. Drawing on extensive empirical studies of firms and industries, Innovation and Development Detours for Latecomers proposes an effective alternative to prevailing development thinking. It presents a rich menu of development pathways, including a new role for Schumpeterian states whereby they do not follow the paths of technological development already taken by advanced countries. Rather, they can skip certain stages and even create their own detours thereby leapfrogging advanced countries in both manufacturing and service sectors. This title is also available as Open Access on Cambridge Core.

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“…Also, the economic system is closed, since it takes into account only economic activities, conflicts with the laws of resource conservation and excludes environmental interests. Studies of Chan-Yuan and Keun [2] are also relevant to this issue. They analyze trends of inclusive development in developing countries by finding a balance between economic growth and social well-being.…”

Section: Analysis Of Recent Researches and Publicationsmentioning

confidence: 99%

Institutional Qualities of Inclusive Environmental Management in Sustainable Economic Development

Kostetska

Khumarova

Umanska

et al. 2020

Management Systems in Production Engineering

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The article considers international trends and directions of inclusive growth which is considered as an inclusive economic growth and is measured by heterogeneous growth indicators, as an index of inclusive development. Considering the above, was analysed the existing state of the country’s growth considering the environmental, economic, social and technological components as prerequisites for inclusive environmental management. Thus, the main focus of this article is on the formation of prerequisites for inclusive nature management in socio-economic and environmental practices and their subsequent methodological support. So segments of population prosperity means not just material consumption, but social vision formation and the institutional support creation for enables everyone to participate in the socio-economic achievements. The main gaps in the institutional support of the inclusive environmental management process are disclosed: in the social sphere: limited access to economically viable means that meet the real needs of the population in terms of health care, social assistance, basic education and awareness; in the ecological and economic sphere there is no effective and efficient management of providing the population with products that comply with the requirements of eco-certification and eco-labelling, which negatively affects the replenishment of the state budget and the promotion of the rational use of natural resources. Therefore, in order to create a favourable climate and institutional support of inclusive environmental management, in this article, will conduct a thorough analysis of the status of its components and assess the compliance of the existing conditions with current international requirements for inclusiveness. Inclusive growth requires environmental inclusion, which can be achieved through the introduction of new metrics and resource value indicators in regional development projects and programs. In doing so, measures should be developed and recommendations made to improve further planning and control.

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Projecting the Arena of Inclusion: The Case of South Korea in Pursuing a Phased Inclusive Growth Process

Cited by 8 publications

References 51 publications

Compressed development, decompression, and diverging convergence in South Korea: which varieties of capitalism in contemporary Korea?

Compressed development, decompression, and diverging convergence in South Korea: which varieties of capitalism in contemporary Korea?

Innovation–Development Detours for Latecomers

Institutional Qualities of Inclusive Environmental Management in Sustainable Economic Development

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