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Adjustments to policy changes : the case of Korea, 1960-1985 (English)

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  • Adjustments to policy changes : the case of Korea, 1960-1985 (English)
  • Richardson, Ray; Kim, Byung Whan
  • World Bank (WB)


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Title Adjustments to policy changes : the case of Korea, 1960-1985 (English)
Similar Titles
Material Type Reports
Author(English)

Richardson, Ray; Kim, Byung Whan

Publisher

World Bank (WB)

Date 1986
Language English
File Type Link
Subject Territorial Development < Transport/Logistics

Abstract

South Korea was subject to severe economic shocks in the late seventies: its GDP declined, and unemployment rose. However, unlike many countries faced with similar shocks during the seventies, its recovery was exceedingly rapid. This paper investigates the factors responsible for the quick recovery in the labor market. It starts with an overview of the structure of the Korean labor market, then discusses wage and employment policies, and their contribution to the labor market's adjustment capability.