Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Financial structures, firms, and the welfare states in South Korea and Singapore
Stockholm University, Faculty of Social Sciences, Department of Political Science.
Number of Authors: 12015 (English)In: Business and Politics, ISSN 1369-5258, E-ISSN 1469-3569, Vol. 17, no 2, p. 327-354Article in journal (Refereed) Published
Abstract [en]

South Korea and Singapore display distinctive patterns of social provision. The Singaporean welfare state has served as the primary provider of social infrastructure and services, whereas the South Korean welfare state has developed its primary role in supporting income maintenance. These differences are not well accounted for in the existing literature, which focuses on similarities between the two regimes. This paper shows that deep institutional legacies in the two countries' respective financial structures powerfully shaped their unique social policy instruments. In South Korea, where financial openness was low and firms relied on relationship-based financing, the corresponding long-term perspectives on production and employment encouraged the private provision of welfare-related infrastructure and services. In Singapore, where firms have relied heavily on arm's length financing, the corresponding flexible investment and employment perspectives encouraged the utilization of private income maintenance arrangements. Each country's government prioritized the mode of social provision that the firms were less willing to engage in. These findings suggest that financial liberalization may be an important determinant of welfare regimes in developing countries.

Place, publisher, year, edition, pages
2015. Vol. 17, no 2, p. 327-354
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:su:diva-176197DOI: 10.1515/bap-2014-0025ISI: 000409513200005OAI: oai:DiVA.org:su-176197DiVA, id: diva2:1373764
Available from: 2019-11-28 Created: 2019-11-28 Last updated: 2019-11-28Bibliographically approved

Open Access in DiVA

No full text in DiVA

Other links

Publisher's full text
By organisation
Department of Political Science
In the same journal
Business and Politics
Economics and Business

Search outside of DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric score

doi
urn-nbn
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf