콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Official Aid General

Print

The role of aid in Korea's development

Related Document
Frame of Image
  • The role of aid in Korea's development
  • Lee, Kye Woo
  • Korea Economic Institute of America


link
Title The role of aid in Korea's development
Similar Titles
Material Type Reports
Author(English)

Lee, Kye Woo

Publisher

Washington, DC:Korea Economic Institute of America

Date 2014
Series Title; No Korea's Economy / 2014
Pages 19
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Official Aid < General
Holding Korea Economic Institute of America

Abstract

Korea’s economic development is often cited as a model for other developing nations. One of about 60 countries whose per capita income was less than $300 in the 1960s, only Korea was able to attain a per capita income of more than $10,000 by 1995. Some scholars have pointed to education as the key. However, while education clearly played a significant role, Korea’s spending on education was not greater than that of other developing countries at the same level of per capita income during the key years of its development from 1962-1994.
One under-appreciated factor in Korea’s development is the role foreign aid. In the second half of Korea’s developmental decades (1979-1992), aid increased sharply to $65.6 billion and consisted of aid that was primarily loans rather than grants. From this experience with developmental aid, Dr. Lee Kye Woo draws ten lessons and conclusions for future developmental assistance.