Three Cases of Productivist Welfare Capitalism
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The early generation of the East Asian developmental states, including Japan, Korea, Taiwan, Hong Kong, and Singapore, has been a favored topic of comparative political economy over the last decades. This is not a surprise if one considers the distinctiveness of their paths to economic growth. The distinctiveness has been termed the “developmental state,” the essence of which is the foremost and single-minded priority of state policy in economic development (Woo-Cumings 1999). Within this developmental paradigm, a strong commitment to protective social welfare is regarded as inefficient and wasteful. This is why East Asian developmental states have espoused certain forms of institutional arrangements of productivist welfare capitalism (PWC) since the early stage of industrialization.
KeywordsForeign Direct Investment Foreign Capital Chinese Communist Party Foreign Direct Investment Inflow World Value Survey
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