 Financing Industrial Development in Korea and Implications for AfricaMPRA Paper from University Library of Munich, Germany Abstract: This chapter examines the implications of Korea’s industrial policy and financing for African economies that are trying to build their industrial bases. It considers industrial policy as essentially building the capabilities of private firms to sustain long-term economic growth and looks at the role of the government or industrial policy in this process of capability building. The chapter first provides an overview of the financial systems and industrial policy in Korea, focusing on the nature of financial control by the government and the roles and evolution of key development banks such as the Korea Development Bank. It then discusses three episodes of industrial policy and financing in these cases involving POSCO, targeted development of bottleneck technologies for small and medium-sized enterprises (SMEs), and leapfrogging into digital TV since the mid-1990s. Finally, it assesses the significance of the Korean experience for Africa, especially with regards to export manufacturing and resource-based development. Keywords: industrial policy; industrial financing; Africa; financial systems; development banks; POSCO; small and medium-sized enterprises; digital TV; Korea; export manufacturing (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:111036 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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