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Globalization And The Developmental State: Reflections On The Asian Financial Crisis, Vincent Wei-Cheng Wang Jan 2002

Globalization And The Developmental State: Reflections On The Asian Financial Crisis, Vincent Wei-Cheng Wang

Politics Faculty Publications and Presentations

This chapter discusses the challenges that globalization poses to the developmental state. It argues that the crisis induced by participation in the global economy has made it imperative to reform, but not jettison, the state. It will begin with an argument for placing the present globalization in a longer historical context. Then, it will contrast two different theories on the East Asian economic miracle that are relevant to the discussions on globalization. It will then show the degree of Asia's globalization in light of certain commonly used indicators so as to establish a partial account of the Asian financial ...