Impacts of the Korean PoliticaI System on Its Economic Development:

Th&icirc;s par asscsses the impacts of the political system on eOnomic devclopment in Korea over the last four decades with a forus on the Lee Myung-bak govemment. A sel of asssment crileria have been devclod including: the establishment proper institulions 10 minimise transaction costs, secure property rights and promote competition; and the implementation 0 national economic with encompassing interest.‘ decisiveness, ∞msistency， credibility, and a long-term orien tation. Compared with the aulhoritarian regimes, none of the K&icirc;m Young-sam, Kim Dae-jung and Roh Moohyun govcmmcn‘s was su<X CSSful in mccting thcsc critcria due to a lack of democratic leadership, the low level of democratic consoli dation and an immalurι. dvil society Lee Myung-hak govem ment has also exposed a lack 이 democratic leadcrship. A number of election pledgcs have becn abandoned and controvers&Icirc;al protects have been introduced, thereby damaging p&igrave;cyd∞slVeness， COnsistency, cred&igrave;bility and the quality of encompassing interests. AIl this indicates that the p이 &igrave;t&igrave;cal system is important for economic development - not a matter of cetms parihus