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Focusing on the formation of the Korean economic system, this book presents a fascinating and comprehensive analysis of economic development outside of the traditional neo-classical, developmental-state and the dependency perspectives. The book examines in detail the evolution of institutions that contributed to economic growth and the formation and the workings of the economic system. With an emphasis on the interaction between government, private institutions (Chaebol and financial institutions) and the influence of Japan, it presents one of the most stimulating and distinctive views of Korean economic development to date.