| Description |
1 online resource (xii, 87 pages) |
| Series |
Routledge studies in the modern world economy |
|
Routledge studies in the modern world economy.
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| Contents |
Intro -- Half Title -- Series Information -- Title Page -- Copyright Page -- Dedication -- Table of Contents -- Figures -- Tables -- Preface -- 1 The economy and policies in the 1950s -- 1.1 The Korean economy -- 1.2 The exchange rate policy in the 1950s -- 1.3 Foreign exchange control and multiple exchange rates -- 1.4 Trade policies in the 1950s -- 1.4.1 Import policy -- 1.4.2 Export promotion measures -- Notes -- References -- 2 Rapid export expansion in the 1960s and 1970s -- 2.1 The beginning of rapid export expansion -- 2.2 Trade and exchange rate policies |
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2.2.1 Protectionist import policy -- 2.2.2 Export promotion measures in the early 1960s -- 2.2.3 Foreign exchange reform in February 1961 -- 2.3 How the rapid export expansion began -- 2.4 Export success and export promotion -- 2.5 Export promotion and its effects -- Notes -- References -- 3 The transformation of the Korean economy -- 3.1 Rapid growth and changes in industrial structure -- 3.2 The driving force -- 3.3 Capital accumulation -- 3.3.1 Policies on foreign loans and financial reform -- 3.3.2 Becoming a capital-abundant economy -- 3.3.3 The Presidential Emergency Decree of 1972 -- Notes |
| Summary |
"Korea's experience of rapid economic growth represents both hope and challenge to many developing countries. The conventional wisdom inside and outside Korea has been that the government's policies such as export promotion, industrial targeting, etc. were the driving forces. This book investigates the effects of the policies and concludes that Korea's growth experience does not corroborate the view. Rather, it points to the world market growing tremendously in size as an important factor that has been overlooked in the discussion of nations' economic growth in the post-World War II era. It was roughly 100 times bigger in the early 1960s than it was in the middle of the First Industrial Revolution. The potential "gains from trade" were that much greater. The Korean economy had not been realizing the potential gains but began to as soon as a major reform of foreign exchange system in 1961 removed the impediments to foreign trade. Explosive export expansion and rapid growth of the economy immediately followed. The "Korean Miracle" may better be understood as a process whereby the economy realized the huge, unrealized potential it had had"-- Provided by publisher |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Jungho Yoo is Visiting Professor at the Korea Development Institute(KDI) School of Public Policy and Management, South Korea. He was previously Fellow at the KDI |
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Online resource; title from digital title page (viewed on March 26, 2020) |
| Subject |
Foreign exchange -- Korea (South)
|
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BUSINESS & ECONOMICS -- Economics -- General.
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BUSINESS & ECONOMICS -- Development -- Economic Development.
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Economic history.
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Economic policy.
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Foreign exchange.
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| SUBJECT |
Korea (South) -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85073057
|
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Korea (South) -- Economic policy.
http://id.loc.gov/authorities/subjects/sh85073060
|
| Subject |
Korea (South)
|
| Form |
Electronic book
|
| LC no. |
2019051334 |
| ISBN |
9781315755052 |
|
131575505X |
|
1317625951 |
|
9781317625964 |
|
131762596X |
|
9781317625940 |
|
1317625943 |
|
9781317625957 |
|
