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Are Special Economic Zones a panacea for developing countries? : Lessons for developing countries

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Frame of Image ommodity taxes, foreign currency exchanges and customs limitations. In addition, SEZs offer business incentives such as rent discounts and preferential tax structures. Both developing and advanced countries manufacturing, distribution, logistics and trade. Over three thousand special economic zones now exist worldwide, and more countries have begun implementing or shown interest in using SEZs for their industrial development. The results so far have been quite mixed; SEZs have succeeded in countries such as China, Singapore and South Korea, while others are still struggling. Many scholars maintain the view that SEZs are not a panacea, and must be implemented properly and carefully aligned with a country’s specific circumstances.
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have established and
utilized such zones to attract outsourced activities in industries such as
www.kiep.go.kr
Including the United States, which has established hundreds of export pro-
cessing zones.
Korea Institute for International Economic Policy
Are Special Economic Zones a Panacea for Developing Countries? Lessons for Developing Countries
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Establishing a business-friendly environment is the chief policy objective of every successful SEZ. To this end, useful lessons that could be relevant to developing economies include, but are not limited to, the following: 1. The SEZ should maximize guaranteed freedom for business activities, removing impediments to foreign investment. Successful SEZs and other jurisdictions have visibly sharp differences


Full Text
Title Are Special Economic Zones a panacea for developing countries?
Similar Titles
Sub Title

Lessons for developing countries

Material Type Reports
Author(English)

Jeong, Hyung-Gon

Publisher

Sejong, Korea:Korea Institute for International Economic Policy

Date 2016-07
Series Title; No KIEP opinions
Pages 5
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Economy < Direct Investment
Holding Korea Institute for International Economic Policy