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Policy complementarities in economic development the case of South Korea

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  • Policy complementarities in economic development the case of South Korea
  • Oh, Wooseok
  • University of Incheon


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Title Policy complementarities in economic development the case of South Korea
Similar Titles
Material Type Reports
Author(English)

Oh, Wooseok

Publisher

[Incheon]:University of Incheon

Date 2004
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Government and Law < Public Administration
Holding University of Washington

Abstract

In interpreting the South Korean growth experience during the three decades before the 1997 crisis, the confrontation was usually made between the outward-oriented growth strategy and the heavy government intervention in the decision making of private agents. In particular, the standard view on this issue considers that the outward-oriented strategy pursued by the East Asian NICs was at the core their success, by helping these countries “getting price right” and neutralizing possible distortions arising from the government intervention that was very frequent in this region. The main objective of this paper is to suggest an alternative interpretation of the South Korean success story by help of the concept of “policy complementarities”. The concept of “policy complementarities” is defined on the basis of the recent advances in institutional economics. (The rest omitted)

User Note

Paper prepared for the third international conference on "Korea and the World Economy",
July 3-4 2004, Sungkyunkwan University, Seoul, Korea