Korea in the 1980s: Policies and Prospects

Bela Balassa
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Bela Balassa: The Johns Hopkins University

Chapter Essay 11 in Change and Challenge in the World Economy, 1985, pp 236-257 from Palgrave Macmillan

Abstract: Abstract Korea has been considered as one of the success stories among developing countries. Starting from a small industrial base, it developed a modern industrial structure and achieved high rates of economic growth, based largely on export orientation, during the decade preceding the 1973–4 oil crisis. Also, Korea was able to rapidly surmount this crisis through the continued application of an outward-oriented strategy.

Keywords: Interest Rate; Real Wage; Intermediate Good; Unit Labor Cost; Wholesale Prex (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17991-6_11

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DOI: 10.1007/978-1-349-17991-6_11

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