A Comparative Study of Development Mechanisms in Korea and Taiwan: Introductory Analysis

Hattori Tamio and Sato Yukihito

The Developing Economies, 1997, vol. 35, issue 4, 341-357

Abstract: This article is the introduction to a special issue of The Developing Economies which presented the results of a research project by the Institute of Developing Economies that examined the development mechanisms in Korea and Taiwan. Our conclusion in this article is that their development mechanisms, despite their similar development patterns of export-led industrialization, have been essentially different: a government-led mechanism in Korea as opposed to a market-led mechanism in Taiwan. We verified this difference through comparative studies of the two economies covering trade balances, the growth of total factor productivity, the scale of enterprises and business groups, and the development processes of individual manufacturing sectors. In our explanatory discussion we propose that the difference in the mechanisms is based on: 1) the amount of accumulation in the economy at the time postwar industrialization started, 2) the relationship between government and society, and 3) the mechanism of social network formation.

Keywords: Economic development; Private companies; Industrial management; Industrial policy; Korea; Taiwan; 経済発展; 民間企業; 企業経営; 産業政策; 韓国; 台湾 (search for similar items in EconPapers)
JEL-codes: O1 O53 (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (2)

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