Revenge of the Developmental State considers the challenges faced by East Asian stock exchanges attempting to refashion themselves in the mold of their global counterparts, and how the state has struggled to redefine its role vis a vis the market. Regulators and the exchanges increasingly have come to loggerheads on listings requirements, new financial instruments, and trading procedures, sometimes in public clashes but more often behind closed doors. Professor Yasuda highlights how the state attempts to dragoon the stock market in service of industrial policy, social welfare, social stability, and economic statecraft highlight obstacles to the rise of financial capitalism in China, Japan, Korea, and Taiwan.

John Yasuda is Assistant Professor of Chinese Politics at the Hamilton Lugar School of Global and International Studies at Indiana University, specializing in regulatory governance, bureaucratic politics, and the politics of finance. His most recent book is "On Feeding the Masses: An Anatomy of Regulatory Failure in China" (Dec 2017). His work has been published with Regulation and Governance, the China Quarterly, and Journal of Politics.

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