State Mediation of Global Financial Forces: Different Paths of Structural Reforms in Japan and South Korea
Bibliographic record
Abstract
This article compares the process of corporate structural reforms in Japan and South Korea in the late 1990s and raises two questions. Why have state-led economies such as Japan and South Korea engaged in politically costly corporate structural reforms in the late 1990s? What explains the variation in the reform process between Japan and South Korea? I argue that the process of structural reforms in state-led economies has been the result of state mediation of global financial forces. The rise of portfolio capital inflows increases the pressure for domestic reforms, a change that is common to Japan and Korea in the late 1990s. However, the actual success of structural reforms depends on the ability of the elite bureaucracy to mediate among between global investors, domestic interest groups and the general public. In contrast to Korea, Japan exhibits a low level of bureaucratic control over the legislative agenda and a situation of tripolar deadlock. The evidence presented here includes quantitative data, government documents, and legislative records as well as information gathered from over 100 interviews with bureaucrats, politicians, business leaders, labor leaders, and other actors in the two countries.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.001 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".