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. (The rest omitted)
Note1: This working paper is circulated for discussion and comment purposes.
This paper was written in response to a call for papers by the Global
Development Network, a public international organization headquartered in
New Delhi, with an office in Washington, DC.
Note2: MPRA is intended to disseminate research papers of economists who want to make their work freely available through the RePEc network but are not affiliated with any institution that provides that furtherance.