This paper assesses South Korean development from the vantage point of economic democracy. By embarking on export-oriented industrialization policy in the 1960s, the Korean state fostered capital concentration and repressed labor demands. After two decades of economic authoritarianism, political democratization in the late 1980s offers a brighter prospect for the democratization of the economy. Nonetheless, the prospect remains imperiled by the consequences of past policy.
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John Lie (1991) studied this question.
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