Developmental Politics in Transition: The Neoliberal Era and by Chang Kyung-Sup, Ben Fine, Linda Weiss (eds.)

By Chang Kyung-Sup, Ben Fine, Linda Weiss (eds.)

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To Kong, the chaebol system has been particularly problematic in the neoliberal era due to its overdiversification and overexpansion tendencies, which have distorted the policy shift “from government credit rationing to financial liberalisation” (p. 240). Also, the chaebol’s propensity to avoid productive negotiation with labour and fair dealings with minor enterprises blocks South Korea’s smooth transition to a flexible and innovative liberal economy. Given the tenacious anti-labour orientation of the state, in addition to the chaebol’s tenacious refusal to acknowledge labour as an equal partner for social and developmental goals, South Korea’s smooth evolution towards a relatively consensual political economy (as found in Continental and Scandinavian Europe, or even Japan) is not very likely.

James 2008) 34 Linda Weiss In this connection, it is interesting to note that earlier perceptions of SWFs as strategic threats that might set about targeting sectors like defence, energy, and finance soon gave way to more positive assessments that welcomed their stabilising influence in financial markets. But in addition to their stabilising role in the financial system, there is potentially also a developmental dimension to sovereign funds. Norway, the world’s second largest fund after the UAE, with some $600 billion in assets (greater than its GDP), has been targeting at least some of its investment in new growth and high-impact areas such as renewable and clean energy companies.

211), but this developmentalist turn of Uganda came without shedding its long-standing commitment to neoliberal rules and interests. The first developmentalist economic regime in Uganda was initiated by and for the British during the post-World War II phase of colonial rule. Giving 16 Chang Kyung-Sup, Linda Weiss and Ben Fine up its early policy of arresting Uganda as an agrarian base for British industrialism, the financially troubled empire decided to “increase production in dollar earning and dollar saving industries” in the colonial territory (p.

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