Some Lessons from Korea's Industrialization Strategy and Experience
13 Pages Posted: 11 Sep 2014
Date Written: April 30, 2014
We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its economic management of the industrialization effort. Finally, we reflect on the lessons from the Korean experience.
Keywords: South Korea, Industrialization, Industrial Strategy, Economic Development, Exports, Trade, Economic Planning, Economic Growth, East Asia, Newly Industrialized Countries, Japanese Economic Model
JEL Classification: F14, L52, N65, O14
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