콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

Print

Korea - Current economic position and prospects (Vol. 2 of 2) : Statistical appendix (English)

Related Document
Frame of Image
  • Korea - Current economic position and prospects (Vol. 2 of 2) : Statistical appendix (English)
  • World Bank (WB)


link
Title Korea - Current economic position and prospects (Vol. 2 of 2) : Statistical appendix (English)
Similar Titles
Material Type Reports
Publisher

World Bank (WB)

Date 1974
Language English
File Type Link

Abstract

The rapid growth that transformed the Korean economy from the sluggish rural pattern of the post-Korean War years to the dynamic semi-industrialized urban pattern of the present creasted several problems: (i) a serious resource shortage due to heavy investment requirements, (ii) widening disparities between rural and urban areas, and (iii) excessive costs of export incentives. However, the government has faced these problems, and 1973 saw a sharp upturn in economic activity. Unprecendented growth in exports, increased tourism revenues, improved savings performance, and a marked revival in fixed investment increased the confidence both in business and government and ambitious long-term planning was undertaken. The oil crisis, however, forced an adjustment of short-term estimates, although no modification of long-term plans seems warranted at present. It does appear that considerably more external assistance than government estimates will be required if goals are to be achieved.