The developmental state in an era of finance-dominated accumulation

Jessop, Bob (2016) The developmental state in an era of finance-dominated accumulation. In: The Asian developmental state : reexaminations and new departures. Palgrave-Macmillan, New York, pp. 27-55. ISBN 9781137476111

[thumbnail of DevState-HKBU-2016-Jessop-FInal]
PDF (DevState-HKBU-2016-Jessop-FInal)
DevState_HKBU_2016_Jessop_FInal.pdf - Submitted Version
Available under License Creative Commons Attribution-NonCommercial-NoDerivs.

Download (369kB)


This chapter puts the developmental state in its place theoretically and historically and proposes an alternative account of recent changes in the role of developmental states in East Asia. It reinterprets the developmental state in terms of the state’s commitment to promoting the economic and extra-economic conditions for catch-up competitiveness and notes that such actions have at least a 500-year history starting in Europe. Because the frontiers and horizons of catch-up competitiveness change, the modes of governance adopted by states also change. On this basis the chapter presents a political economy of the East Asian developmental state, based on critical state theory and the regulation approach; analyses its crisis-tendencies in its ‘classic’ form of the Listian workfare national state; and indicates how East Asian states are adapting to the rise of the knowledge-based economy as the currently hegemonic economic imaginary and to finance-dominated accumulation (also known as financialization) as the currently dominant accumulation regime on a world scale. The chapter ends with some remarks on the research agenda that follows from this approach.

Item Type:
Contribution in Book/Report/Proceedings
Additional Information:
Derives from Conference at Baptist University, Hong Kong, December 2013 The Developmental State in an Era of Finance-Dominated Accumulation Bob Jessop Submitted version of chapter in Yin-Wah CHU, ed., ed., The Asian Developmental State: Reexaminations and New Departures, New York: Palgrave-Macmillan, 978-1-137-47612-8, pp. 27-55, c2016 reproduced with permission of Palgrave Macmillan. This extract is taken from the author's original manuscript and has not been edited. The definitive, published, version of record is available here:
?? developmental stateknowledge-based economyfinancializationcrisislistian workfare national stateschumpeterian workfare postnational regimenational security statecatch-up competitiveness ??
ID Code:
Deposited By:
Deposited On:
17 Jun 2016 13:40
Last Modified:
18 Dec 2023 02:17