Was Globalization At Work?: Realigning the Economic Bureaucracy and the Korean State in Transition

One of the most important scholarly issues in political economy during the last decade has been economic globalization.

A powerful case for the penetrating power of globalization on the nation states was the Asian financial crisis in 1997, which drove South Korea, once an exemplary success case of state-led economic development, to the brink of national bankruptcy.

The economic crisis and the following structural reform process of South Korea seem to clearly demonstrate the limit of state-centric developmental model and the converging effect of neoliberal capitalism even on a nonliberal state-led economy.

While recent scholarly discussions on the "globalization and the state" thesis have mostly focused on changes in the non-state actors or the state-market relationship, Ms. Jung draws our attention to the transformation of the state bureaucratic institutions.

In her talk, she uses South Korea as a critical case and traces the dramatic institutional changes of the Economic Planning Board (EPB) and the Ministry of Finance (MOF) between 1994 and 1999. Ms. Jung unpacks the black box of why and how specific decisions on key bureaucratic institutional changes were made in Korea, tests how globalization affected the transformation process, and then analyzes the consequences of such changes for the role and authority of the South Korean state in economic development and reform.

Buffet lunch will be provided to those who RSVP to Jasmin Ha at jaha@stanford.edu by Tuesday, April 12.