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South Korea and Taiwan: Some aspects of 'economic miracle'

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  • South Korea and Taiwan: Some aspects of 'economic miracle'
  • György, Simon, Jr.
  • Corvinus University of Budapest


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Title South Korea and Taiwan: Some aspects of 'economic miracle'
Similar Titles
Material Type Reports
Author(English)

György, Simon, Jr.

Publisher

[Budapest]:Corvinus University of Budapest

Date 2016-01
Pages 36
Subject Country South Korea(Asia and Pacific)
Taiwan(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Conditions
Industry and Technology < Others
Holding Corvinus University of Budapest

Abstract

South Korea and Taiwan have recently become East Asia’s “Little Tigers” with comparatively advanced and open economies. The author argues that the main driving force of their economic successes was the increasing contribution of creativity to productivity growth, first of all in manufacturing, the pulling sector of modern economy. He discusses the political background and general achievements of South Korea’s and Taiwan’s economic development. For deeper analysis, he uses the basic version of a general model elaborated and verified by an investigation on 131 countries that considers not only physical and human capital, but also time as the event space of creative economic activity.