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Selective intervention and growth : The case of Korea

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  • Selective intervention and growth
  • Marcus, Noland
  • Peterson Institute for International Economics


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Title Selective intervention and growth
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Sub Title

The case of Korea

Material Type Articles
Author(English)

Marcus, Noland

Publisher

[Washington, D.C.]:Peterson Institute for International Economics

Date 2004-08
Pages 23
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < General
Holding Peterson Institute for International Economics

Abstract

This paper attempts to determine whether conditions amenable to successful selective interventions to capture cross-industry externalities are likely to be fulfilled in practice. Three criteria are proposed for good candidates for industrial promotion: that they have strong interindustry links to the rest of the economy, that they lead the rest of the economy in a causal sense, and that they be characterized by a high share of industry-specific innovations in output growth. According to these criteria, likely candidates for successful intervention are identified in the Korean data. It is found that, with one exception, none of the sectors promoted by the heavy and chemical industry (HCI) policy fulfills all three criteria.