The Phases of Growth and Their Characteristic Features

Dilip K. Das
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Dilip K. Das: Ecole Supérieure des Sciences Economiques et Commerciales

Chapter 2 in Korean Economic Dynamism, 1992, pp 21-58 from Palgrave Macmillan

Abstract: Abstract This chapter focuses on the dynamics of the growth process in Korea. The not-so-spectacular economic performance of the fifties was referred to in the preceding chapter. In the mid-fifties the economy was still adjusting to partition and the dislocation caused by the Korean War. In 1955 the economic structure was essentially agricultural, with 47.5 per cent of the GDP originating in the primary sector, and 7.9 per cent in the manufacturing sector. The agricultural sector employed over 70 per cent of the labour force while the industrial sector employed only 7 per cent. Exports were tiny and exportable manufactured products were unknown.

Keywords: Interest Rate; Money Supply; Real Interest Rate; Bank Credit; Domestic Saving (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37385-3_2

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DOI: 10.1057/9780230373853_2

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