State-Firm Coordination and Upgrading: Reaching the Efficiency Frontier in Skill-, Capital-, and Knowledge-Intensive Industries in Spain and South Korea

Since the 1980s, Spain and South Korea have experienced a dramatic transformation from middle-income to advanced economies. While market liberalization and globalization were important forces for change, and while states continue to be central in the organization of the Spanish and South Korean economies, the liberal and the developmental state perspectives do not provide an understanding of critical elements of these transformations.

Building on a combination of historical institutionalism...