The Importance of Economic Policy in Development: Contrasts Between Korea and Turkey

Anne O. Krueger

No 2195, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In the mid-1950's, Turkey was a much richer country than Korea. With about the same population, Turkish GNP was about three times that of Korea, Turkish exports were fifteen times those of Korea, and the Turkish savings rate was much higher than Korean. By 1980, the situation was dramatically reversed, as Turkish income was 40 percent below Korea's, Turkish exports were less than one-fourth those of Korea and the Turkish savings rate was about two-thirds of Korea' s. This paper examines the variables that affected economic growth and shows the critical importance of the different policy choices in the two countries.

Date: 1987-03
Note: ITI IFM
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published as Krueger, A. "The Importance of Economic Policy in Development: Contrasts Between Korea and Turkey," in Protection and Competition in International Trade, Essays in Honor of W.M. Corden, ed. by Henryk Kierzkowski, Oxford, England: Basil Blackwell, 1987.
Published as Reprinted in Estudios de Economia, Universidad fde Chile, Vol. 15, No. 2, Auguust 1988, pp. 229-265.

Downloads: (external link)
http://www.nber.org/papers/w2195.pdf (application/pdf)

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:nbr:nberwo:2195

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w2195

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().