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The transition to export-led growth in South Korea, 1954-66

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  • The transition to export-led growth in South Korea, 1954-66
  • Haeggard, Stephan; Kim, Byung-Kook; Moon, Chung-in
  • World Bank


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Title The transition to export-led growth in South Korea, 1954-66
Similar Titles
Material Type Articles
Author(English)

Haeggard, Stephan; Kim, Byung-Kook; Moon, Chung-in

Publisher

Washinton, D.C.:World Bank

Date 1990-11
Series Title; No PRE Working Paper Series / 546
Pages 48
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Economy < Economic Administration
Holding COnnecting REpositories

Abstract

In analyzing the turning point in Korea's transition in the early 1960s from a strategy of import substitution to one of export-oriented industrialgrowth, Haggard, Kim, and Moon examine not just the economics of change but the politics of economic policy and reform - the incentives facing state and business elites and the institutional context in which they operated.Their analysis shows that the transition to export-led growth in South Korea was a product of the interplay of four factors: pressure from the United States, the dominance of the executive branch, institutional reform within the bureaucracy, and a restructuring of relations between the state and business. Their findings help reconcile the debate between neoclassical and "statist" positions on Korea's economic transformation. They also provide an example of an institutional approach to economic development that is relevant for other developing countries. (The rest omitted)