Evolution of Large Corporations in Korea: A New Institutional Economics Perspective of the Chaebol Book

	List of tables
	List of figures
	Preface
1	The chaebol problem and the economic policy dilemma	1
	What is the chaebol?	1
	The chaebol problem: a preliminary	3
	A new theoretical framework toward understanding the chaebol problem	6
	Strategy of study	13
	Structure of book	13
2	Industrial policies and the growth of the chaebol	17
	Industrial policies in Korea	17
	Growth of the chaebol and the origin of chaebol regulation	25
3	Critical review of the traditional perception of the chaebol problem	31
	Monopolization of economic resources and aggregate economic concentration	31
	Monopolistic market structure: the problem of market concentration	38
	Conglomeration of the chaebol: problems of chaebol behavior	44
App. A1	Mobility statistics to measure effective competition within the chaebol	52
App. A2	Market concentration and industry concentration (1991-1995)	56
4	A new interpretation of the chaebol problem and evaluation of chaebol policy	62
	Reinterpretation of the chaebol problem	62
	Evaluation of the chaebol policy	67
App. A1	Summary of regulation on chaebol	77
App. A2	Notes on the 'big deals' and the 'workout program'	83
5	The role of institutions and government in the evolution of chaebols	89
	The perspective of new-institutional economics: the property rights system and economic organization	90
	Anecdotal observations of the weakness in property rights protection in Korea	94
	Property rights system and economic organizations: summary of empirical evidence	99
	Lack of property rights protection and behavior of chaebols	102
	Reorientation of government policies toward big businesses	107
App. A1	Extracts from Yak-Yong Jung's A Guide to Shepherding People (Mok Min Shim Suh)	110
App. A2	Extracts from Isabella Bird Bishop's Korea and Her Neighbours	112
6	Economic institutions, diversification and performance: empirical evidence and implications for chaebol behavior	118
	Economic institutions, globalization and diversification	120
	Institutions and economic performance	139
App. A1	Cross-country regression analysis of diversification behavior	143
App. A2	Diversification projection for Korea	149
App. A3	Institutions and economic performance: regression model and results	149
7	Lessons from Korea's economic success and the future paradigm for corporate policy	154
	A brief evaluation of Korea's industrial policies	155
	Lessons from the past and the future paradigm	163
	A new theory of corporate governance: institutions, corporate behavior and public policy	169
8	Toward a new framework of chaebol policy	189
	Basic direction of a new chaebol policy	190
	Toward improving chaebol regulation policy	191
	Reform of competition policy	205
	The improvement of economic institutions	210
9	Overview and conclusion	218
	References	226
	Index	233
	Name index	237