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Model of growth and employment in the open dualistic economy : The cases of Korea and Taiwan

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  • Model of growth and employment in the open dualistic economy
  • Fei, J. C.; Ranis, Gustav
  • United States Agency for International Development


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Title Model of growth and employment in the open dualistic economy
Similar Titles
Sub Title

The cases of Korea and Taiwan

Material Type Reports
Author(English)

Fei, J. C.; Ranis, Gustav

Publisher

[Washington, D.C.]:United States Agency for International Development

Date 2013
Series Title; No Conference Proceedings, Paper
Pages 51
Subject Country South Korea(Asia and Pacific)
Taiwan(Asia and Pacific)
Language English
File Type Link
Subject Economy < General
Social Development < Employment
Holding United States Agency for International Development

Abstract

In this paper, the pressing problem of unemployment in the contemporary developing world is studied from an historical perspective of transition growth, i.e., the process representing the termination of economic colonialism and the initiation of modern growth. This problem is investigated for a particular type of LDC, namely, the open dualistic labor surplus economy. The post-war (1950-1970) experience of Taiwan and Korea is analyzed from this viewpoint -- emphasizing the fine differences as well as the family resemblance among these countries. The authors accept the "initial" period of transition as 1952-54 for Taiwan and 1953-57 for Korea, with the "terminal" period as 1968-70, in both cases. In Section\I they present a comparative static model, with statistical evidence, to examine the initial and terminal structural characteristics of two countries under observation. Section\II identifies several important turning-points during the transition process. In Section\III they present their conclusions and the implications of their analysis for employment and output policy in labor-surplus LDC's.