Opening Japan's financial markets - 26

South Korea underwent rapid economic development under a semi-military, virulently anti-communist government which banned trade unions and kept close checks on the economy.

President Roe Tae Woo has, however, since 1987, introduced electoral and social reforms.

Strikes and wage rises have followed, leading to a loss of competitive edge, and the growth of opposition parties has resulted in political stalemate.

Robert E. Bedeski provides a thorough analysis of the institutions of government in South Korea and how they have been transformed by the introduction of political pluralism, and of the attempt to liberalize without undermining economic success.