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An endogenous growth model approach to the Korean economic growth factors

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  • An endogenous growth model approach to the Korean economic growth factors
  • Lee, Jong Won; Yu, Byoung Gyu
  • University of Washington


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Title An endogenous growth model approach to the Korean economic growth factors
Similar Titles
Material Type Articles
Author(English)

Lee, Jong Won; Yu, Byoung Gyu

Publisher

[Seattle]:University of Washington

Date 2005-12
Pages 25
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Economic Conditions
Holding University of Washington

Abstract

The rapid growth of the Korean economy since 1960s is generally regarded as a miraculous event. The growth strategies of the Korean economy have been evaluated pessimistic views on the Korean economy as a growth model have been raised, especially when Korea faced the foreign exchange crisis in 1997. One of these pessimistic views is that Korean economic growth was just the result of an expansive input of production factors. Therefore it argues that the Korean economy lacks further potential of rapid growth. But these debatable arguments have not been properly analyzed yet. To evaluate the future growth potential of Asian countries including Korea, these pessimistic views should be examined thoroughly. The aim of this paper is to evaluate empirically the pessimistic views on the Korean economy. In other words, this paper analyzes what factors caused the growth of the Korean economy so far from a new viewpoint. (The rest omitted)