The political economy of income distribution in South Korea: The impact of the state's industrialization policies

A number of previous studies of economic growth and income distribution in South Korea, based largely on 1960s data, concluded that South Korea was an exception to Kuznets' ‘inverse U-pattern’ of income inequality. Also, it was regarded as an exception to the usual negative consequences predicted by dependency theory for an economy so dependent on foreign capital and world markets. This author presents more recent data — for the 1970s and early 1980s — in order to support his claim that the trend toward income equality that appeared in the 1960s was reversed in the 1970s. The author develops a thesis that stresses the role of the state in shaping the Korean political economy. He argues that it has been the strong South Korean developmentalist state in firm control of both domestic and foreign capital and its export-oriented industrialization policies that have been the principal determinant of the pattern of income distribution. He contests the usual explanation related to the level of economic development or external dependency per se.     

The causal role of money in West Germany — Some contradicting comments and evidence

Zusammenfassung Die kausale Rolle des Geldes in der Bundesrepublik Deutschland: Widersprüche und Evidenz. — Eine Reihe von Studien sind in den letzten Jahren zu dem SchluΒ gekommen, daΒ monet?re Aggregate in der Bundesrepublik weder für die Produktion noch für das Preisniveau kausal seien im Sinne von Granger. Zwei Charakteristika von Zeitreihen, die die Ergebnisse der bisherigen Studien verzerrt haben k?nnen, werden hier n?her untersucht. So erscheint es nicht angebracht, Bruttosozialproduktsdaten zu verwenden, weil die Einbeziehung des Staates und regulierter Sektoren die Zeitreihencharakteristika der theoretisch relevanten Preis- und Produktionsgr?Βen des privaten wettbewerblichen Sektors erheblich unterdrücken. überdies sind die Daten zeitlich relativ hoch aggregiert. Unter Verwendung monatlicher Daten für die Industrieproduktion in der Bundesrepublik werden Kausalit?tsbeziehungen zwischen Ml und M3, Preisen und Produktion aufgezeigt. Unter Verwendung derselben Daten wird demonstriert, wie sich die empirischen Kausalit?tsmuster durch die zeitliche Aggregation ver?ndern.

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Résumé Le róle causal de la monnaie dans la République Fédérale d’Allemagne: Contradictions et évidence. — Une série d’études des derniéres années a tiré la conclusion que les agrégats monétaires dans la République Fédérale ne sont causals au sens de Granger ni pour la production ni pour le niveau de prix. Ici l’auteur analyse deux caractéristiques des séries chronologiques qui ont pu causer des distorsions dans ces études. L’utilisation des données sur le produit national brut n’est pas adéquate en ce contexte parce que l’inclusion de l’état et des secteurs réglés peut supprimer d’une maniére considérable les caractéristiques des séries chronologiques des agrégats de prix et de production du secteur privé concurrentiel dont on parle dans la théorie. De plus, les données sont relativement haut agrégée en ce qui concerne le temps. En utilisant les données mensuelles du secteur industriel de la République Fédérale l’auteur démontre des relations de causalité entre Ml, M3, les prix et la production et l’influence de l’agrégation temporelle sur les résultats des tests de causalité.

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Resumen El rol causal del dinero en la República Federal de Alemania — contradicciones y evidencia. — Una sèrie de estudios han llegado en los últimos a?os a la conclusion que los agregados monetarios en la República Federal no estan en relación causal en el sentido de Granger ni para la production ni para el nivel de precios. Se investigan dos caracteristicas de series de tiempo que pueden ocasionar distorsiones. La utilization de datos del producto social no parecen adecuados en este contexto, ya que la inclusion del Estado y de sectores regulados pueden cambiar en forma importante las caracteristicas de sèries de tiempo de estas cifras trente al comportamiento de series de tiempo de precios y production del sector privado competitivo. Ademas estos datos tienen una agrègation bastante alta a travès del tiempo. Se demuestra por medio de un ejemplo cómo la agrègation temporal modifica los resultados de los tests de causalidad. Utilizando datos mensuales del sector industrial de la República Federal se indican relaciones de causalidad entre M₁ y M₃, precios y producción.

     

从农场到工厂：韩国的无产阶级化历程

东亚工业化经济中的无产阶级化历程,无论是与基于西方早期工业化经验的无产阶级化理论相比较,还是与拉丁美洲或非洲半边陲式发展的模式相比较,都是极其不同的。与半无产阶级化命题的预测相反,伴随韩国的依附式资本主义发展的,是一个比发生于19世纪与20世纪的欧洲更为快速、突然和密集的无产阶级化历程。在这一被压缩的无产阶级化过程中,同时出现了蓝领工人和白领工人数量的激增,以及女性在白领工作的就业比例的快速增长。韩国工人之所以没有对无产阶级化表现出强烈的集体回应,在很大程度上是因为国家对劳工运动的镇压性的控制,以及韩国缺少强有力的手工业文化传统。不过,急剧的无产阶级化过程还是促进了工人阶级运动的发展。与资本的自主性活动相比,国家所扮演的发展角色对韩国产业转型的特殊模式及工人对该模式的反应的影响,要更为深刻。     

Government risk premiums in the bond market: EMU and Canada

This paper focuses on risk premiums paid by central governments in Europe and sub-national governments in Germany, Spain, and Canada, using data for bond yield spreads for the period 1991–2005. We find that risk premiums by central governments respond positively to debt and deficits; German states enjoyed a favourable position in financial markets before EMU but not thereafter; Spanish and Canadian provinces risk premiums over the whole period; German and Spanish sub-central governments pay liquidity-related interest rate premiums; Canadian and German provinces/states that benefit from fiscal equalization lower spreads. This is evidence of market discipline at work and of credibility of the EU no-bailout clause.     

Tarifpartnerschaft — ein altes,aber gefährdetes Bündnis?

100 years ago, in November 1918, the Stinnes Legien Agreement was drawn up between various employers’ associations and trade unions. It included collective bargaining autonomy and collective agreements, the eight-hour work day and work councils. It soon failed, but served as a model for the legal regulation of collective bargaining relations after the Second World War. In the meantime, however, collective bargaining has declined significantly. Many employers are members of their associations without a collective agreement. At the same time, union memberships are declining. In view of increasingly precarious forms of employment, the government apparently needs to implement stronger regulations on collective bargaining relations again, such as the Minimum Wage Act. Finally, a look back: In 1918, editorial member Alfred Schmidt-Essen commented on the agreement from a current perspective. We document the article.     

The Process of Consumer Reactions to Possession Threats and Losses in a Natural Disaster

This paper examines involuntary possession disposition associated with a natural disaster. Results of a naturalistic investigation involving group and depth interviews with wildfire survivors are consistent with previous research proposing that disposition is a symbolic and meaningful process. Overall, these consumers reactions to possession threats and losses appear to follow a sequence of stages. We also find this process to have some unique characteristics that distinguish it from other types of disposition.This revised version was published online in May 2005 with a corrected cover date.     

Technological disemployment and economic growth

Very little early technical advance effects export expansion or import substitution. Because technological disemployment (that much misunderstood process) accompanies it, that advance increases aggregate income little, but merely concentrates it in fewer hands. Without continuing exogenous increase in aggregate demand, there will be little growth. This thesis is believed basic to understanding of economic growth. Corollaries relate to ‘export-led growth’, population growth, and the trend during growth in the distribution of income.