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East Asian culture and economic miracle : The South Korean experience

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  • East Asian culture and economic miracle
  • Park, Sang-Chul
  • University of Malaya


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Title East Asian culture and economic miracle
Similar Titles
Sub Title

The South Korean experience

Material Type Articles
Author(English)

Park, Sang-Chul

Publisher

[Kuala Lumpur]:University of Malaya

Date 2016-01
Journal Title; Vol./Issue Institutions and Economies:Vol. 8(No. 1)
Pages 24
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Social Development < Others
Government and Law < Public Administration
Holding University of Malaya

Abstract

After the economic destruction of advanced nations including Japan during to the Second World War, the countries gradually recovered to register impressive growth rates until 1980s; included in this rank is some developing countries. Tremendous growth rates were seen in newly industrialised nations such as Hong Kong, Singapore, South Korea, and Taiwan since the 1980s. At present, the Chinese economy is fast expanding and is the fastest growing after Malaysia and Thailand. East Asian economies are among the three major economic powers in the global economy along with the EU and the NAFTA. They share cultural heritage and have worked hard to develop their nations and play an important role in the global economic system. Thus, it is relevant to analyse what are reasons behind East Asian countries’ rapid economic development. (The rest omitted)