Back to Events of Tuesday 04th December 2018


06:00 PM

Ostasien Aktuell: Vortragsreihe „Understanding Contemporary Korea”

Varieties of Capitalism and Practices of Ideas: The case of South Korea

Prof. Taeyoung Yoo (College of Business, Hankuk University of Foreign Studies, Seoul, Korea)

In contrast to the literature which analyzes government size using contingent factors, such as political and economic conditions, I propose that societal traditions, such as trust and state–business relations (SBR), complement the explanations of government size in an economy. Using 29 Organization for Economic Co-Operation and Development (OECD) countries from 1995 to 2008, I show that a high level of trust is negatively related to government expenditure, whereas tight SBRs are positively related to it even under the decreasing trend of government expenditure. I suggest that attention should be paid to the societal contexts of an economy in addition to its contingent factors, when analyzing changes in political economic activities.


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