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Embracing Free Trade Agreements, Korean Style: From Developmental Mercantilism to Developmental Liberalism

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Authors
Koo, Min Gyo
Issue Date
2010
Publisher
Graduate School of Public Administration, Seoul National University
Citation
Korean Journal of Policy Studies, Vol.25 No.3, pp. 101-123
Keywords
developmental mercantilismdevelopmental liberalismindustrial policyfree trade agreement
Abstract
This study analyzes how and to what extent South Korea has embedded
developmental liberalism into its free trade agreement (FTA) initiative, departing
from its traditional focus on developmental mercantilism. In the wake of the global
economic crisis of 2008-09 and the subsequent expansion of government interventionism
across the world, the developmental state model has attracted renewed
scholarly attention. It offers a useful conceptual framework to examine how a particular
set of arrangements between the competitive and uncompetitive sectors in
South Korea has shifted from developmental mercantilism to developmental liberalism.
South Korea’s FTA initiative constitutes a notable policy shift to liberalism,
departing from a mercantilist approach with a policy mix of import protection and
export promotion. It has been shaped by a top-down political initiative rather than
a bottom-up demand from business groups and the general public. Despite South
Korea’s liberal but state-centric nature, its FTAs are closely embedded in its social
fabric.
ISSN
1225-5017
Language
English
URI
http://hdl.handle.net/10371/73199
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Graduate School of Public Administration (행정대학원)Dept. of Public Administration (행정학과)Korean Journal of Policy Studies (정책논총)Korean Journal of Policy Studies (정책논총) vol.25(3) (2010)
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