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Korea's industrial policies during respective rapid growth period

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Frame of Image rial Policies
1
Policies for economic development, mainly trade and industrial policies
2
Korea’s Industrial Policies
ECONOMIC POLICIES HAVE BEEN DISTINCT ECONOMIC IN NATURE FROM PERIOD TO PERIOD.
1950s 1950s 1960s 1960s 1970s 1970s 1980s 1980s 1990s 1990s
Industrialization through import substitution under protection Industrialization through import substitution under protection Export Promotion Export Promotion Heavy and Chemical Industry (HCI) Drive Heavy and Chemical Industry (HCI) Drive Stability // Market // Trade Liberalization Stability Market Trade Liberalization Institutionall Reforms Institutiona Reforms
* one commonality: heavy and intensive government intervention * one commonality: heavy and intensive government intervention
Korea’s Industrial Policies
IMPORT SUBSTITUTION INDUSTRIALIZATION: 1950's
♦ Trade
Annual Exports: $50 million or less Annual Exports: $50 million or less Annual Imports: $300 million or so, mostly financed by foreign aid Annual Imports: $300 million or so, mostly financed by foreign aid
♦ Foreign exchange controls ♦ Industrialization through quantitative import restrictions and other protectionist measures
* Protectiioniist policy has strong anti-export bias. * Protect on st policy has strong anti-export bias. * The policy reflects the economists consensus on economic development at the time. * The policy reflects the economists consensus on economic development at the time.
Korea’s Industrial Policies
EXPORT PROMOTION, 1963-72 EXPORT
POLICY


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Title Korea's industrial policies during respective rapid growth period
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Material Type Proceedings
Author(English)

Yoo, Jungho

Date 2006
Pages 17
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Holding KDI School of Public Policy and Management