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South Korea in the Fast Lane: Economic Development and Capital Formation

Young-Iob Chung
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Young-Iob Chung: Eastern Michigan University (Emeritus)

in OUP Catalogue from Oxford University Press

Abstract: After having been a Japanese colony for more than 35 years until 1945, the miraculous economic development in the southern half of the Korean peninsula has multiplied the nations output nearly 38 times and expanded per capita income by 16 times from $778 to $12,422 (in year 2000 prices) and transformed from basically an agrarian economy to that of a major industrial power, which is now considered one of a dozen or so of most industrialized countries in the world, during the 43-year period between 1953 and 1996. This book is a study of development of the South Korean economy from the time of the cessation of the Korean War to date, based on available data with minimal historical description, focusing on investment, the sources and means of capital formation, which is one of the most critical factors that contributed to economic development, and the government role of in them for economic growth and structural changes. The approach in this study is more analytical (without being mathematical, statisti Available in OSO: http://www.oxfordscholarship.com/oso/public/content/economicsfinance/9780195325454/toc.html

Date: 2007
ISBN: 9780195325454
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