Book contents
- Frontmatter
- Contents
- List of Figures
- List of Tables
- Acknowledgments
- 1 THE PUZZLE AND THE THEORY
- 2 COMPARING KOREA AND THE PHILIPPINES
- 3 INSTITUTIONS: BUREAUCRATS AND RULERS
- 4 MUTUAL HOSTAGES IN KOREA
- 5 BANDWAGONING POLITICS IN THE PHILIPPINES
- 6 DEMOCRACY IN THE 1980S AND THE FINANCIAL CRISIS OF 1997
- 7 CONCLUSION: CORRUPTION AND DEVELOPMENT
- Index
7 - CONCLUSION: CORRUPTION AND DEVELOPMENT
Published online by Cambridge University Press: 31 October 2009
- Frontmatter
- Contents
- List of Figures
- List of Tables
- Acknowledgments
- 1 THE PUZZLE AND THE THEORY
- 2 COMPARING KOREA AND THE PHILIPPINES
- 3 INSTITUTIONS: BUREAUCRATS AND RULERS
- 4 MUTUAL HOSTAGES IN KOREA
- 5 BANDWAGONING POLITICS IN THE PHILIPPINES
- 6 DEMOCRACY IN THE 1980S AND THE FINANCIAL CRISIS OF 1997
- 7 CONCLUSION: CORRUPTION AND DEVELOPMENT
- Index
Summary
By comparison with most underdeveloped countries, the basic economic position of the Philippines is favorable. … Through a comparatively high level of expenditure on education, transport, communications, and industrial plant over the past fifty years, the Philippines has achieved a position in the Far East second only to Japan … the prospects of the Philippine economy for sustained long-term growth are good.
– World Bank, 1957There can be no doubt that this development program [the First Five-Year Plan] by far exceeds the potential of the Korean economy … it is inconceivable that exports will rise as much as projected.
– World Bank, 1961This book has been about money politics in Korea and the Philippines. Money politics has been extensive, and consequential, in both countries. Although I have not focused on economic development, this book's argument leads to a natural question: why was there growth in Korea but not the Philippines? If both Korea and the Philippines were characterized by extensive political meddling into economic affairs, if influence peddling led to economic decisions made for political reasons, and if in both countries personal relationships mattered more than individual competence, then why did Korea grow so spectacularly whereas the Philippines did not? Although development is an entirely different dependent variable than money politics, it is fitting that this book concludes with a discussion of how the issues of corruption and development might relate to one another.
Money politics has always been a central aspect of the pattern of Korean and Philippine politics, and this study has shown that we cannot assume benevolence on the part of the state.
- Type
- Chapter
- Information
- Crony CapitalismCorruption and Development in South Korea and the Philippines, pp. 181 - 194Publisher: Cambridge University PressPrint publication year: 2002