This book, first published in 2006, offers an explanation of the development paths of post-World War II Korea and Taiwan.

Acknowledgments; Introduction; Part I. Business Groups and Economic Organization: 1. The problem of economic organization; 2. Interpreting business groups in South Korea and Taiwan; 3. A model of business groups: the interaction of authority and market power in the context of competitive economic activity; 4. Economic organization in South Korea and Taiwan: a first test of the model; Part II. Emergence and Divergence of the Economies: 5. The origins of capitalist economic organization; 6. The rise of intermediary demand: a reassessment of the 'Asian miracle'; 7. Global matching, demand responsiveness, and the emergence of divergent economies; 8. Trade performance of South Korea and Taiwan: a second test of the model; Conclusions; Appendix A. Mathematical model of business groups; Appendix B. Examples of differential pricing practices of Korean groups; Appendix C. Hypothesis tests of the model; Appendix D. The role of debt in the Korean financial crisis, 1997; References; Index.