Pirie, Iain (2016) Korea and the global economic crisis. The Pacific Review, 29 (5). pp. 671-692. doi:10.1080/09512748.2015.1032337 ISSN 0951-2748.

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Abstract

Korean policy-makers constructed the global economic crisis as a purely external threat to the domestic economy. This understanding of the crisis supported a selective retreat from neo-liberalism. More problematically, the construction of the crisis as an exogenous phenomenon allowed policy-makers to focus on maintaining short-term growth without seriously addressing the structural weaknesses of the economy that the crisis should have drawn attention to. Levels of household debt in Korea have risen since the crisis and are considerably higher than in the USA. Equally, the economy remains over reliant on exports as a source of growth.

Item Type:	Journal Article
Subjects:	H Social Sciences > HJ Public Finance
Divisions:	Faculty of Social Sciences > Politics and International Studies
Library of Congress Subject Headings (LCSH):	Financial crises -- Korea
Journal or Publication Title:	The Pacific Review
Publisher:	Routledge
ISSN:	0951-2748
Official Date:	2016
Dates:	Date Event 2016 Published 17 April 2015 Published 18 March 2015 Accepted
Volume:	29
Number:	5
Number of Pages:	22
Page Range:	pp. 671-692
DOI:	10.1080/09512748.2015.1032337
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Date of first compliant deposit:	11 March 2016
Date of first compliant Open Access:	17 October 2016

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