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One of the most important elements of East Asian Developmental States is the role of the state and most studies had focused on the smart and successful industrial policy in explaining the rapid economic growth. However, East Asian developmental States had experienced the financial crisis in 1997 and the industrial policy became to be criticized as the cause of moral hazard and financial crisis. Since 1980s, industrial policy already had been criticized and constrained by the global standard that it would disturb the fair competition in world economy. It is often argued that there has been ‘disappearance of industrial policy’ since 1990s in Korea. This study intends to explore the shift of industrial policy in Korea and to evaluate whether the new industrial policy had an effect on economic development. And it will explain why most of them have resulted in failure, and suggest indicators of good governance by focusing on case studies of new industrial policy. This study will draw some theoretical and practical implications of how the role of the state could be redefined in a changed environment, globalized and democratized period. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]

The East Asian developmental states after experiencing the 1997 Asian crisis are in a situation required to transform and reform the model of development. Some have argued that the developmental states are declining and transforming into the Anglo-American neoliberal regulatory states. Others have argued that although the problems of the developmental states have been recognized, as of yet there is an absence of new model replacing it. This study intends to explore and define the path of the post-developmental state after the Asian crisis. Korea and Taiwan can be important cases for analyzing the change of developmental state. Korea and Taiwan have been transformed into powerful IT nations in a short period of time. But their transformation processes have been somewhat different again and their recent IT promotion policy seems to still reflect path-dependent even in the globalized and informatized period, which is supposed to be path-breaking. This study is designed to answer the question by comparing the transformation process of Korea and Taiwan. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]