Lessons from (S) Korea

Irma Adelman

Zagreb International Review of Economics and Business, 1999, vol. 2, issue 2, 57-72

Abstract: After examining the critical role of the two five year plans (1962-67, focusing on infrastructure development and import substitution; 1967-72, emphasising export oriented industrialisation) in the rapid economic progress of (S) Korea, this paper discusses how mismanaged financial liberalisation led to severe economic troubles of the country in the late 1990s.

Keywords: government led development; export oriented industrialisation; asset confiscation; labour absorption; wastage allowance (search for similar items in EconPapers)
JEL-codes: O21 O5 (search for similar items in EconPapers)
Date: 1999
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