Better democracy, better economic growth? South Korea

Abstract

Koreans have worked hard to improve the quality of their democracy. They have promoted the rule of law, accountability, control of corruption, freedom, and responsiveness, and made an effort to make government more effective. They are also committed to economic freedom. In relation to the rule of law, significant attention has been devoted to reducing terrorism and violence, making government more effective, and enhancing regulatory quality. However, with regard to accountability, control of corruption, and transparency, Korea has still a long way to go. The analysis of democratization and improvements in the quality of democracy to date suggest that Korea has adapted to the changing economic environment and is sustaining its economic growth. This has been accompanied by social and economic polarization and a consequent demand for more and better welfare services.