LEADER 04493nam 2200673 450 001 9910821211703321 005 20230808192342.0 010 $a1-5017-0416-8 010 $a1-5017-0417-6 024 7 $a10.7591/9781501704178 035 $a(CKB)3710000000633546 035 $a(EBL)4517910 035 $a(SSID)ssj0001647021 035 $a(PQKBManifestationID)16416214 035 $a(PQKBTitleCode)TC0001647021 035 $a(PQKBWorkID)14791017 035 $a(PQKB)10885239 035 $a(StDuBDS)EDZ0001510560 035 $a(MiAaPQ)EBC4517910 035 $a(OCoLC)946725821 035 $a(MdBmJHUP)muse51418 035 $a(DE-B1597)478544 035 $a(OCoLC)979625023 035 $a(DE-B1597)9781501704178 035 $a(Au-PeEL)EBL4517910 035 $a(CaPaEBR)ebr11248567 035 $a(CaONFJC)MIL951840 035 $a(EXLCZ)993710000000633546 100 $a20160904h20162016 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aDevelopmental mindset $ethe revival of financial activism in South Korea /$fElizabeth Thurbon 210 1$aIthaca, New York ;$aLondon, [England] :$cCornell University Press,$d2016. 210 4$dİ2016 215 $a1 online resource (236 p.) 225 1 $aCornell Studies in Money 300 $aDescription based upon print version of record. 311 $a1-5017-0252-1 320 $aIncludes bibliographical references and index. 327 $tFrontmatter --$tContents --$tList of Illustrations --$tList of Abbreviations --$t1. Rebirth of the Developmental State --$t2. Developmental States: Bringing Ideas Back In --$t3. Makings of a Developmental Mindset and Emergence of Strategy Mark I --$t4. Rise of Financial Activism --$t5. Fracturing Consensus and the Abandonment of Financial Activism --$t6. Return of the State --$t7. Emergence of Strategy Mark II --$t8. Return of Development Bankers --$t9. Full Flowering of Financial Activism --$t10. What Future for Financial Activism in Korea and Beyond? --$tAcknowledgments --$tNotes --$tReferences --$tIndex 330 $aThe Asian financial crisis of 1997-1998 was supposed to be the death knell for the developmental state. The International Monetary Fund supplied emergency funds for shattered economies but demanded that states liberalize financial markets and withdraw from direct involvement in the economy. Financial liberalization was meant to spell the end of strategic industry policy and the state-directed "policy lending" it involved. Yet, largely unremarked by analysts, South Korea has since seen a striking revival of financial activism. Policy lending by state-owned development banks has returned the state to the core of the financial system. Korean development banks now account for one quarter of all loans and take the lead in providing low-cost finance to local manufacturing firms in strategic industries.Elizabeth Thurbon argues that an ideational analysis can help explain this renewed financial activism. She demonstrates the presence of a "developmental mindset" on the part of political leaders and policy elites in Korea. This mindset involves shared ways of thinking about the purpose of finance and its relationship to the productive economy. The developmental mindset has a long history in Korea but is subject to the vicissitudes of political and economic circumstances. Thurbon traces the structural, institutional, political, and ideational factors that have strengthened and at times weakened the developmental consensus, culminating in the revival of financial activism in Korea. In doing so, Thurbon offers a novel defense of the developmental state idea and a new framework for investigating the emergence and evolution of developmental states. She also canvasses the implications of the Korean experience for wider debates concerning the future of financial activism in an era of financialization, energy insecurity, and climate change. 410 0$aCornell studies in money. 606 $aFinance$zKorea (South) 606 $aEconomic development$zKorea (South)$xFinance 607 $aKorea (South)$xEconomic policy 615 0$aFinance 615 0$aEconomic development$xFinance. 676 $a332.095195 700 $aThurbon$b Elizabeth$01627650 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910821211703321 996 $aDevelopmental mindset$93964335 997 $aUNINA