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Trust and economic development: comparison of subcontracting relations among Korea, Japan and Taiwan
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- Authors
- Issue Date
- 2000
- Citation
- Korean Journal of Policy Studies, Vol.15 No.1, pp. 57-75
- Abstract
- This study examines the link between trust and economic development by focusing on subcontracting
relations and comparing institutional sources of trust among Korea, Japan and Taiwan. Korea and Japan show
similarities that trust was based on institution, whereas trust may be a product of culture as well as that of institution
in Taiwan. In contrast to Taiwan and Japan, the Korean subcontracting relations between the Les(Large Enterprises)
and the SMEs(Sma1l And Medium Enterprises) have been exploitative and noncooperative ones without trust, and the
Korean economy has the dual structure of strong LES and weak SMEs. The persistent weakness of the SMEs in Korea
could be attributed to institutional defects, resulted from the political coalition between the governent and the LES,
excluding the SMEs. To increase the level of trust in subcontracting relations, institutional setting such as monitoring
and sanctioning system needs to be established. Building effective institutions requires genuine understanding of the
importance of the SMEs in the economy.
- ISSN
- 1225-5017
- Language
- English
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