The Role of Government in Economic Development: The Korean Experience

In-Joung Whang

Asian Development Review (ADR), 1987, vol. 05, issue 02, 70-88

Abstract: Every government, regardless of political ideology, is engaged in the mobilization and allocation of resources, the stabilization. of the national economy, and the promotion of technological innovation. Furthermore, a government plays diverse roles in development: as the guardian of political stability, which is a prerequisite for economic growth, as the instrument for law and order, as the major investor, as a source of development financing, as a powerful agent of social change, as a motivating force behind investment decisions by private business, and as a safeguard of social security. The relative priority assigned to these multifarious roles of government has varied over time to cope with the changing market forces and business environment…

Date: 1987
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DOI: 10.1142/S0116110587000095

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