New Challenges for Maturing Democracies in Korea and Taiwan takes a creative and comparative view of the new challenges and dynamics confronting these maturing democracies.

Numerous works deal with political change in the two societies individually, but few adopt a comparative approach—and most focus mainly on the emergence of democracy or the politics of the democratization processes. This book, utilizing a broad, interdisciplinary approach, pays careful attention to post-democratization phenomena and the key issues that arise in maturing democracies.

“As two paradigmatic cases of democratic development, Korea and Taiwan are often seen as exemplars of both modernization and democratization. This volume both contributes and moves beyond this focus, looking forward to assess the maturation but also the risks to democracy in both countries. With its strong comparative focus and a sober appreciation of how hard it can be not to just to attain but to sustain democracy, it represents a major contribution."  

     — Benjamin Reilly, Dean, Sir Walter Murdoch School of Public Policy and International Affairs, Murdoch University

What emerges is a picture of two evolving democracies, now secure, but still imperfect and at times disappointing to their citizens—a common feature and challenge of democratic maturation. The book demonstrates that it will fall to the elected political leaders of these two countries to rise above narrow and immediate party interests to mobilize consensus and craft policies that will guide the structural adaptation and reinvigoration of the society and economy in an era that clearly presents for both countries not only steep challenges but also new opportunities.

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Larry Diamond is a Senior Fellow at the Hoover Institution and the Freeman Spogli Institute for International Studies at Stanford. He is also Director of Stanford's Center on Democracy, Development, and the Rule of Law. Gi-Wook Shin is Director of the Walter H. Shorenstein Asia-Pacific Research Center, the Tong Yang, Korea Foundation, and Korea Stanford Alumni Chair of Korean Studies, and Professor of Sociology at Stanford.

This volume collects 22 articles by Masahiko Aoki, selected from writings published over the course of his 45-year academic career. These fascinating essays cover a range of issues, including mechanism design, comparative governance, corporate governance, institutions and institutional change, but are tied together by a focus on East Asia and a comparative institutional framework.

Specific topics include the early stages of mechanism design theory, comparative analysis of vertical, horizontal and modular industrial coordination and its applications, cooperative game-theoretic approaches to the diversity of corporate government structure, the endogenous nature of institutions, and comparative and historical analysis of institutions in Japan, China and Korea.

Students, professors and scholars with an interest in comparative institutional studies and East Asian studies will find this book a useful and illuminating resource.

This paper contributes to the discussion of how Public Private Interplay (PPI) can be used to foster Next Generation Access (NGA) buildouts in Europe by introducing the experience of Japan. Japan, which succeeded in both promoting nationwide network buildouts and fostering competitive dynamics that led to the world's fastest and cheapest broadband services and deploying them nationwide. The process entailed deregulation, which unleashed new entrepreneurial private actors, and re-regulation that protected them from incumbent carriers. The resulting market dynamics lowered Digital Subscriber Line (DSL) prices, influencing the market price for Fiber-To-The-Home (FTTH), for which the government had heavily subsidized carriers. Central government initiatives, combined with local incentives, led to an almost 100% broadband accessibility within a few years. However, Japan quickly discovered that taking advantage of the broadband environment to produce innovation, productivity growth, and economic dynamism, was far more difficult than facilitating its creation. It discovered regulatory barriers for the use of Information and Communications Technology (ICT) in various areas of the economy. Like Europe, Japan was not home to the ICT lead-user enterprises and industries that drove the ICT revolution, producing innovation and productivity gains. Moreover, the advent of US-centered cloud computing services potentially decreases the minimum bandwidth requirement to access global-scale computing power. The development of wireless technologies far cheaper than Japan's nationwide FTTH also merits serious consideration for European policy discussions.

The Tenth Korea-U.S. West Coast Strategic Forum was held at Stanford University on June 28, 2013. Established in 2006 by Stanford University’s Walter H. Shorenstein Asia-Pacific Center (Shorenstein APARC), and now convening twice annually and alternating in venue between Stanford and Seoul, the forum brings together distinguished South Korean (Republic of Korea, or ROK) and U.S. West Coast–based American scholars, experts, and former military and civilian officials to discuss North Korea, the U.S.-ROK alliance, and regional dynamics in Northeast Asia. The Sejong Institute of Korea is co-organizer of the forum. Operating as a closed workshop under the Chatham House Rule of individual confidentiality, the forum allows participants to engage in candid, in-depth discussion of current issues of vital national interest to both countries. Participants constitute a standing network of experts interested in strengthening and continuously adapting the alliance to best serve the interests of both countries. Organizers and participants hope that the publication of their discussions at the semi-annual workshops will contribute to the policy debate about the alliance in both countries and throughout Northeast Asia.

This paper discusses economic impacts and policy challenges related to implementing Basel III, the new international standard of banking regulation, in the United States, Japan, and the European Union. The G20 leaders endorsed Basel III in late 2010 and currently national regulators are translating it into their national laws and regulations. A key issue is whether regulators can persuade their national legislatures and industries of the merits of Basel III. This paper compares and analyzes the economic cost-benefits of Basel III under the different regulatory environments of these countries, including the size of the banking sector in financial intermediation, the size of bank assets relative to GDP, additional capital that banks need to raise, the methods banks use to raise capital ratio, and cross-border bank activities.