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Korea's export growth : An alternative explanation

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  • Korea's export growth
  • Castley, R J
  • The University of Manchester


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Title Korea's export growth
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An alternative explanation

Material Type Reports
Author(English)

Castley, R J

Publisher

Manchester:The University of Manchester

Date 2008
Pages 35
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Holding The University of Manchester

Abstract

South Korea’s impressive rapid growth to come from a low-income country to a high-income country is an experience that developing countries can certainly learn from. Low-income countries can learn from South Korea in the 1960s to 1980s for it to move on to middle-income. Indeed, many former low-income countries that have transitioned to middle-income countries have at least followed similar policies or growth patterns of South Korea. However, many countries that have transitioned to middle-income status find themselves unable to move on to high-income status. In fact, out of 110 middle-income countries from the 1960s, only 13 including South Korea, have transitioned to high-income status. This phenomenon is called the “middle-income trap”, which the paper will analyze with the particular focus on Asian countries. The Asian countries this paper identifies as being in the middle-income trap are Indonesia, Thailand and the Philippines, which makes for interesting case studies as they are in the same region in South Korea and had similar economic growth patterns. (The rest omitted)