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Developmental mindset : the revival of financial activism in South Korea by Elizabeth Thurbon is a nonfiction available to read on EtoBox.

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The Asian financial crisis of 1997–1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded that states liberalize financial markets and withdraw from direct involvement in the economy. Financial liberalization was meant to spell the end of strategic industry policy and the state-directed "policy lending" it involved. Yet, largely unremarked by analysts, South Korea has since seen a striking revival of financial activism. Policy lending by state-owned development banks has returned the state to the core of the financial system. Korean development banks now account for one quarter of all loans and take the lead in providing low-cost finance to local manufacturing firms in strategic industries.Elizabeth Thurbon argues that an ideational analysis can help explain this renewed financial activism. She demonstrates the presence of a "developmental mindset" on the part of political leaders and policy elites in Korea. This mindset involves shared ways of thinking about the purpose of finance and its relationship to the productive economy. The developmental mindset has a long history in

Who reads Developmental mindset : the revival of financial activism in South Korea?

Author

Elizabeth Thurbon

Publisher

Cornell University Press

Published

2016

Language

EN

ISBN

9781501702525

Category

nonfiction

Subjects

Economics, Finance, Business