The Dynamics of Korean Economic Development

The Dynamics of Korean Economic Development

Book - 1994
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One of Korea's most distinguished economists and teachers offers a new and critical appraisal of his country's postwar development. Dr. Cho argues that Korea's development strategy since 1960 achieved extraordinary growth rates, but it also contributed to structural imbalances that will impede Korea's entry into the ranks of the advanced industrial countries unless they are corrected. These structural problems include concentration of economic and political power in large industrial conglomerates, retarded development of small and medium-sized enterprises essential for entrepreneurship and technological innovation, an inadequate private financial services sector, and costly labor strife. Dr. Cho concludes that Korea must undertake a "great transition" in order to sustain growth and democratization. He recommends policies to reduce industrial concentration, establish a competitive pricing system (particularly in the financial sector), promote small and medium-sized enterprises, improve labor-management relations, and encourage investment in human capital.
Publisher: Washington, DC : Institute for Internationsl Economics, 1994
ISBN: 9780881321623
0881321621
Call Number: 338.9519 C4515d
Characteristics: xiv, 216 p. : ill. ; 23 cm

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