Political Economies of Northeast Asia: Japan, Korea and Taiwan

This module examines the origins, characteristics and dynamics of the political systems of Northeast Asia (Japan, South Korea, Taiwan) and how they cope with the dilemmas of economic and social sustainability. Japan, South Korea, Taiwan constitute Asia’s most advanced market democracies. Their histories of very rapid industrialization (c. 1955-90) mean that they were once considered as textbook examples of “development miracles” whose institutions of political and economic governance were widely admired. For the past 30 years, however, they have encountered the serious problems of economic and social sustainability (so-called “high income trap”) that also plague advanced western capitalist democracies, notably, growth slowdown, rising inequality, unaffordable property prices, ageing society and inter-generational divide. The transition from "development miracle" to high-income economy, therefore, has not resulted in a "golden age" of capitalism akin to that experienced by western capitalism two generations ago. In Northeast Asia, these problems have formed the backdrop to political protest and rotation of government (e.g. Sunflower Revolution in Taiwan 2014, Candlelight Revolution in Korea 2016-17). This module will examine why the economic and social dilemmas of affluence” are particularly acute in Northeast Asia given their recent histories as miraculous economies (characterized by “growth with equity”). It will also reveal whether Northeast Asia is generating its own distinctive responses to these dilemmas.

Objectives and learning outcomes of the module

• Study of the Northeast Asian pathway of advanced capitalism will enhance students' knowledge of one of the dilemmas of political and economic governance in one of the world's most economically dynamic regions.
• Students will be exposed to prevalent explanatory theories of capitalism (especially historical institutionalism, varieties of capitalism, state-centric theories) derived from Western experience and be able to assess the extent of their applicability to Northeast Asian conditions.
• The comparative approach from this module will provide students with skills for analyzing the interaction between politics and economics in other country and regional environments.
• This module will also improve students' general skills of research and presentation of arguments in both verbal and written forms.

Workload

• 2 hour seminar per week

Method of assessment

• Assignment 1: 40%
• Unseen exam: 50%
• Presentation: 10%

Suggested reading

• T.J. Pempel, ‘The Enticement of Corporatism: Appeals of the “Japanese Model” in Developing Asia’ in Dennis L. McNamara, Corporatism and Korean Capitalism (London: Routledge, 1999) pp. 26-53.
• Richard F. Doner et al. ‘Systemic Vulnerability and the Origins of Developmental States: Northeast and Southeast Asia in Comparative Perspective’ in International Organization 59 (Spring 2005): 327-61.
• Margarita Estévez-Abe, Welfare and Capitalism in Postwar Japan (New York: Cambridge University Press, 2008).
• Ben Ross Schneider, ‘A comparative political economy of diversified big business groups, or how states organize big business’ in Review of International Political Economy 16(2) (2009): 178-201.
• Walter F. Hatch, Asia’s Flying Geese: How Regionalization Shapes Japan (Ithaca: Cornell University Press, 2010)

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