The Korean Development Model: Characteristics and Lessons

Chuk Kyo Kim

Chapter 14 in Economic Development of Korea, 2019, pp 263-271 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Korea’s outstanding economic and social performance is attributable to the interaction of various factors whose relative importance cannot be easily gauged. Political stability and strong leadership commitment to development were prerequisites for economic development. The labor force in the 1960s was cheap, but educated and industrious. This backlog of human capital combined with the formulation of an outward-oriented development strategy laid the foundation for remarkable economic achievement…

Keywords: Economic Development; Korean Studies; (Northeast) Asian Economics; Economic History (search for similar items in EconPapers)
JEL-codes: F63 N01 (search for similar items in EconPapers)
Date: 2019
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