The study analyzes the relationship between the government and financial institutions in order to examine changes in the nature of the developmental state after the 1980s. It assumes that the approach which focuses on the government's strategic promot...
The study analyzes the relationship between the government and financial institutions in order to examine changes in the nature of the developmental state after the 1980s. It assumes that the approach which focuses on the government's strategic promotion of targeted industries is subject to theoretical drawbacks. It is concluded that the state-market relationship has evolved toward a market-oriented model despite the government's intervention for the promotion of strategic industries. Also, when it comes to the government-bank relationship, the latter is likely to become more autonomous.