Government, Business and Finance in Korean Industrial Development

Barry Eichengreen

International Economic Journal, 2012, vol. 26, issue 3, 357-377

Abstract: This paper reassesses the roles of government, business and finance in South Korea's economic growth and development. It argues that these extra-market mechanisms were each important, in their own ways, for solving coordination problems that would have otherwise posed obstacles to industrial growth. But what were solutions in the early stages of modern economic growth proved to be impediments later, as the problems that had to be solved changed but the institutions did not.

Date: 2012
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DOI: 10.1080/10168737.2012.707871

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