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Korean growth policy

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  • Korean growth policy
  • Dornbusch, Rudiger; Park, Yung Chul
  • The Brookings Institution


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Title Korean growth policy
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Material Type Articles
Author(English)

Dornbusch, Rudiger; Park, Yung Chul

Publisher

Washington, DC:The Brookings Institution

Date 1987
Series Title; No Brookings Papers on Economic Activity / 1987-2
Pages 66
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < General
Holding The Brookings Institution

Abstract

Korea continues to be in the limelight as one of a handful of developing countries that have adjusted successfully to both the oil shocks of the 1970s and the debt shock of the early 1980s. Generally credited with the success is Korea's superior economic policy. In fact, Korea now serves as a model for the export-oriented strategy of development that multilateral institutions are urging on countries of Africa and Latin America. This paper reviews the role of policy in Korea's success thus far and investigates the current challenges facing government policymakers, in particular the emergence of a massive current account surplus. (The rest omitted)