Karl Ho
Data Generation datageneration.io
Karl Ho
School of Economic, Political and Policy Sciences
University of Texas at Dallas
Political Economy of Technology in East Asia
East Asian
Political Economy Systems
Overview
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Political economy systems in East Asia
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Japan model
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"Four tigers"
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Southeast Asia
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Transitional Political economies
| East Asian country | Comparable to? |
|---|---|
| Japan | |
| China | |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | |
| The Philippines | |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | |
| The Philippines | |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | Russia |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | |
| The Philippines | |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | Russia |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | Cuba |
| The Philippines | |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | Russia |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | Cuba |
| The Philippines | |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | Russia |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | Cuba |
| The Philippines | Latin America |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | Russia |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | Cuba |
| The Philippines | |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | Russia |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | Cuba |
| The Philippines | Latin America |
| Vietnam | |
| Brunei |
| East Asian country | Comparable to? |
|---|---|
| Japan | Germany |
| China | Russia |
| Singapore | |
| South Korea | |
| Hong Kong | |
| Taiwan | |
| North Korea | Cuba |
| The Philippines | Latin America |
| Vietnam | |
| Brunei | Saudi Arabia? |
Political Economy Systems
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General pattern: Economy and Polity
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Better Governance ↔ Advanced economy
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Convergence or Divergence?
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Political Economy Systems
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Controversies
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Washington Consensus: “State sets the price right, let market work its magic”
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Developmental state theorists: “State picks the winner”
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Political Economy Systems
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Controversies
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Washington Consensus: When to set prices and when to let go
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Developmental state theorists: Strong states lead to success, but also failures
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Political Economy Systems
Controversies
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Formula of success:
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correlation of economic development and political developments
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↑ Democracy ↑ GDP , e.g. Japan
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↑ Authoritarian ↓ GDP, Burma
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Liberal democracy + strong institutions=“Shared Growth” =Economic success
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Time factor: when to do the right thing.
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Japanese model
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Stage I (1950s-80s):
Embedded Mercantilism -
Stage II (1980s-present):
Structural Reform
Japanese model
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Stage I (1950s-80s): Embedded Mercantilism
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1955 founding of Liberal Democratic Party (LDP)
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Conservatism
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Iron Triangle: LDP, Elite bureaucrats and big businesses
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State friendly to market
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Market embedded in state
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Japanese model
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Stage II (1980s-present): Structural Reform
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Pressure from other developed nations
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Investment-led strategy
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1985 Plaza Accord and yen appreciation
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More open market but not fully liberal market economy
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“Four tigers”
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South Korea
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Taiwan
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Singapore
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Hong Kong
How would you like to reorder them?
“Four tigers”
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South Korea
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Founded in 1948 from Japanese colonization
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Korean war (1950-53)
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General Park Chung Hee coup d'état in 1961
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Democratization began in 1987
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1988 Seoul Olympics and 1997 Financial crisis
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Strong state with big enterprises
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National character
“Four tigers”
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Taiwan
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KMT took over in 1949
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Martial law till 1987
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Chiang Ching-kuo (son of Chiang Kai-shek) launched reform in 1972 and start democratization in 1986
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Democratic Progressive Party in 1986
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Strong technocrats
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US support
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Social safety net
“Four tigers”
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Singapore
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Autonomous in 1959
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People’s Action Party under Lee Kuan Yew
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Vulnerability justified strong role of state
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State supported private enterprises, industries
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Encourage FDI via Economic Development Board
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Social safety net and public housing
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Clean government
“Four tigers”
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Hong Kong
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British colony until 1997
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Promised democracy in Sino-British negotiations and Basic law (mini-constitution
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Remain semi-democratic since 1997
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Laissez faire, freest city and system
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2014 Umbrella Movement
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2019 Anti-Extradition Bill protests
PETEA: Political Economy Systems
By Karl Ho
