Taking a Turnpike: A Korean Perspective*

Wontack Hong

Review of International Economics, 2005, vol. 13, issue 1, 146-164

Abstract: Catch‐up is very much like taking interstate turnpikes to travel from a destitute backward state to an advanced state of material affluence in the shortest time. This paper presents an overview of the catch‐up process in Korea, analyzing the process of taking a turnpike. It delineates the advantage of export‐oriented growth strategy and examines the institutionalization of an export‐oriented regime in Korea. It amplifies the nature of Korea's “governed” market policies that bred the seeds of eventual catastrophe in light of the 1997 crisis that has dramatically revealed Korea's Achilles heel. It also addresses the political economy of switching turnpikes, amplifying the necessity of a fundamental institutional restructuring at certain points in the catch‐up process.

Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/j.1467-9396.2005.00496.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:reviec:v:13:y:2005:i:1:p:146-164

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0965-7576

Access Statistics for this article

Review of International Economics is currently edited by E. Kwan Choi

More articles in Review of International Economics from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().