Korean Incentive Policies towards Industry and Agriculture

Danny M. Leipziger and Peter A. Petri
Additional contact information
Danny M. Leipziger: The World Bank
Peter A. Petri: Brandeis University

Chapter 8 in The Balance between Industry and Agriculture in Economic Development, 1989, pp 167-189 from Palgrave Macmillan

Abstract: Abstract In just three decades, South Korea has changed from an agrarian economy into a manufacturing powerhouse, capable of competing with Japan and the USA in high technology products and with Europe and Japan in the manufacture of ships and automobiles. It has done so in a way that has spread the benefits of growth widely, across both urban and rural households. From nearly 50 per cent of GDP in the early 1950s, agriculture’s share fell to 14 per cent in 1984. Given the remarkable performance of Korean industry, it is easy to take for granted the rapidity and smoothness of Korea’s sectoral transition. In many countries much smaller shifts in economic structure have created severe intersectoral frictions. This paper explores the circumstances and policies that made Korea’s sectoral transition relatively painless, and concludes with an analysis of the current issues that confront Korea’s intersectoral incentive policy.

Keywords: Industrial Policy; Country Study; Bank Lending; Industrial Growth; Industrial Finance (search for similar items in EconPapers)
Date: 1989
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-19746-0_8

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349197460

DOI: 10.1007/978-1-349-19746-0_8

Access Statistics for this chapter

More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().