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The state, systems of innovation and economic growth : Comparative perspectives from India and South Korea

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  • The state, systems of innovation and economic growth
  • Singh, Lakhwinder; Bhangoo, Kesar Singh
  • Seoul National University(Institute of Economics Research)


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Title The state, systems of innovation and economic growth
Similar Titles
Sub Title

Comparative perspectives from India and South Korea

Material Type Articles
Author(English)

Singh, Lakhwinder; Bhangoo, Kesar Singh

Publisher

[Seoul]:Seoul National University(Institute of Economics Research)

Date 2014
Journal Title; Vol./Issue Seoul Journal of Economics:vol. 27(no. 1)
Subject Country India(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < General
Government and Law < Public Administration
Holding Seoul National University

Abstract

Why long run growth rate differs across countries and over time remained unresolved question in development economics. In this paper an attempt has been made to examine the economic growth performance of India and South Korea to throw light on the above stated issue. National and sectoral growth rates of India and South Korea covering the period 1961-2011 have shown a dramatic differential in economic growth performance and concomitant structural change. The engine of growth in the South Korean economy during the fast phase of economic development has remained the manufacturing sector and followed standard patterns of economic growth as observed by the industrially advanced countries. In the case of India, despite massive efforts to industrialize and capacity building for establishing manufacturing base, the engine of growth has remained the service sector. (The rest omitted)