Pension policy and politics in East Asia

This research aims to analyse recent pension reforms in South Korea and Taiwan, newly emerging welfare states in East Asia, using new institutional approaches and to test their explanatory power. This article introduces a theoretical review of new institutionalism and accordingly explains recent pension reforms in the two countries. In spite of their similar politico-institutional factors, the two countries have adopted highly different types of pension schemes and pension politics. I argue that new institutionalism has limitations in fully accounting for these differences and suggest a complementary explanation of business structures and influences.