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Working paper on INCAS blog : https://incas.hypotheses.org/ ; The role of the state and public agencies has come to the fore again since the global financial crisis to spur innovation-led growth. Alimented by the success of global tech giants in particular, new policy rationales emerged in favor of government support for ICT startups. The paper addresses the crucial question of whether the corresponding organizational capabilities do exist to implement such policies. This article focuses on the case of South Korea, renowned at the same time for the strong capacities of the state and an institutional setting hostile to new ventures. The main contribution of the paper is to analyze institutional change within the Korean innovation bureaucracy and the evolution of its organizational capabilities, underpinning the startup promotion policies implemented since 2013. Under the appearance of continuity of state innovation capacities, the startup promotion policies foster a restructuring of the public infrastructure supporting the corporate sector. The results, drawn upon an extensive fieldwork in the Korean startup ecosystem, indicate that there is a loss of state capacities, which impede on the implementation of large-scale promotion of the manufacturing industries.

Working paper on INCAS blog : https://incas.hypotheses.org/ ; The role of the state and public agencies has come to the fore again since the global financial crisis to spur innovation-led growth. Alimented by the success of global tech giants in particular, new policy rationales emerged in favor of government support for ICT startups. The paper addresses the crucial question of whether the corresponding organizational capabilities do exist to implement such policies. This article focuses on the case of South Korea, renowned at the same time for the strong capacities of the state and an institutional setting hostile to new ventures. The main contribution of the paper is to analyze institutional change within the Korean innovation bureaucracy and the evolution of its organizational capabilities, underpinning the startup promotion policies implemented since 2013. Under the appearance of continuity of state innovation capacities, the startup promotion policies foster a restructuring of the public infrastructure supporting the corporate sector. The results, drawn upon an extensive fieldwork in the Korean startup ecosystem, indicate that there is a loss of state capacities, which impede on the implementation of large-scale promotion of the manufacturing industries.

In calling for a visible and massive government intervention, the crisis of 2008 provided the leading role of the state in regulating the economy, or at least justified its intervention as a last resort. Give rise to surrender without structural cause of the neoliberal discourse, it has renewed interest in industrial policy in a kind of double movement Polanyi which oppose regulatory forces and pro-market forces. Since the questioning in the early 2000s, recommendations serinees far by international organizations (IMF and World Bank in the lead) under the triptych stabilization-liberalization-privatization, industrial policy has been a progressive rehabilitation in the development strategies of field. This is the 1997 Asian crisis and its repercussions in Russia and Latin America were the catalysts of this questioning of the 'Washington Consensus'. J. Stiglitz, president of the World Bank between 1997 and 2000, lambasted the said recommendations of financial liberalization and opening of the capital account countries largely responsible, he said, the Asian crisis. Remedies imposed to affected countries - restrictive fiscal and monetary policies pro-cyclical consequences - were equally criticized. Note that these policies also relevant since the OECD member countries. Adapted from the source document.

Working paper on INCAS blog : https://incas.hypotheses.org/682 ; The purpose of this article is to analyze the revival of industrial policies from the late 2000s in Japan and Korea and their limitations. Our approach has two major characteristics. First, we adopt the perspective of historical institutionalism to focus on the relation between IPs and financial systems and study their evolution over the last 40 years. Second, by mobilizing the concepts of institutional complementarities and hierarchy, we discuss the limits of this revival in a context of liberalized financial systems, to which IPs have contributed. Our major result is that, in the context of financialization, past complementarities of the developmental state have weakened and contradictions have arisen. It resulted in a restructuration of state capabilities to design and implement IPs, and to its inability to subordinate finance to its goals, despite the discourses and ambitions of governments. However, and this is our second result, comparison between Japan and Korea also allows us to identify some significant differences that may explain diverging trends in terms of the deindustrialization and internationalization of these two economies.

Working paper on INCAS blog : https://incas.hypotheses.org/682 ; The purpose of this article is to analyze the revival of industrial policies from the late 2000s in Japan and Korea and their limitations. Our approach has two major characteristics. First, we adopt the perspective of historical institutionalism to focus on the relation between IPs and financial systems and study their evolution over the last 40 years. Second, by mobilizing the concepts of institutional complementarities and hierarchy, we discuss the limits of this revival in a context of liberalized financial systems, to which IPs have contributed. Our major result is that, in the context of financialization, past complementarities of the developmental state have weakened and contradictions have arisen. It resulted in a restructuration of state capabilities to design and implement IPs, and to its inability to subordinate finance to its goals, despite the discourses and ambitions of governments. However, and this is our second result, comparison between Japan and Korea also allows us to identify some significant differences that may explain diverging trends in terms of the deindustrialization and internationalization of these two economies.