Redesign or demise of old Developmental States? East Asia in the post-financial crisis of 2008

Vol. 40 No. 4 (2020)

Oct-Dez/2020
Published October 23, 2020
PDF-English
PDF-English

How to Cite

Silva, Roberta Rodrigues Marques da, and Rafael Shoenmann de Moura. 2020. “Redesign or Demise of Old Developmental States? East Asia in the Post-Financial Crisis of 2008”. Brazilian Journal of Political Economy 40 (4):689-711. https://doi.org/10.1590/0101-31572020-3140.

Redesign or demise of old Developmental States? East Asia in the post-financial crisis of 2008

Roberta Rodrigues Marques da Silva
Adjunct Professor, Department of Political Science, Universidade Federal Fluminense – UFF, Rio de Janeiro/RJ, Brasil.
Rafael Shoenmann de Moura
Institute of Social and Political Studies of the State University of Rio de Janeiro (IESP-UERJ), Rio de Janeiro/RJ, Brasil.
Brazilian Journal of Political Economy, Vol. 40 No. 4 (2020), Oct-Dez/2020, Pages 689-711

Abstract

This article investigates comparatively the recent developmental dynamics of four East Asian political economies: Japan, South Korea, Taiwan and China. We analyze how the critical juncture engendered by the systemic crisis of the US subprime impacted on its State capabilities, particularly regarding industrial policy, being mediated by the respective regulatory and institutional frameworks. Additionally, we compare the impacts of the 2008 crisis and the previous Asian regional crisis of 1997. Our findings indicate that State capabilities, associated to the historical construction of a Developmental State, were a central feature to understand the resilience of each political economy.

JEL Classification: O1; O5.


Keywords: East asia State capabilities financial crisis critical juncture