Title Asia's Next Giant : South Korea and Late Industrialization

Published Cary : Oxford University Press, USA, 1989

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Description 1 online resource (396 pages) Contents Preface -- Contents -- Tables and Figures -- 1. Industrializing through Learning -- The Case of Korea -- Learning: A New Mode of Industrialization -- The Relative Speeds of Industrializations -- Korea as a Special Case of Late Industrialization -- The State -- The Process of Catching Up -- Overcoming Technological Ignorance: From Rent-Seeking to Investing -- Plan of the Book -- PART I: The State and Business: History and Policies -- 2. A History of Backwardness -- The Retarding Effects of a Weak State -- The Yi Dynasty -- The Contradictions of Modernization The Cold WarAid and the Origins of the Diversified Business Group -- Three Contending Views -- Conclusion -- Appendix 2-1 -- 3. The ABCs of Japanese and Korean Accumulation -- Competitive Advantage in Korea versus in Japan -- The Emergence of an International Division of Labor -- The Model of Accumulation -- Trade Policies -- Investment Policy -- Conclusion -- Appendix 3-1 -- 4. The Dynamics of Growth -- The Three Facets of Growth -- The Government as Entrepreneur -- Government Short-Run Economic Policies -- The Key to Recovery: High Productivity The Growth-Productivity Dynamic of Late IndustrializationConclusion -- 5. The Spiraling of Market Power -- Monopoly, Competition, and Liberalization: An Overview -- Market Concentration -- Corporate Strategy Toward Diversification -- Discipline of Monopoly Power -- Conclusion -- 6. Getting Relative Prices “Wrong�: A Summary -- Failure of the Market Paradigm -- The Insufficiency of the Schumpeterian Alternative -- The Historical Record: Deliberately Getting Relative Prices “Wrong� -- When “Wrong� Is Right -- The Disciplinary Mechanism Developmentalism: A Research AgendaCompetition in Late Industrialization and the Growth Dynamic -- The Diversified Business Group -- The Growth-Productivity Dynamic in Late Industrialization -- “Wrong� Prices, Right Direction? -- Conclusion -- PART II: Professional Management and Human Resources -- 7. The Rise of Salaried Engineers: Automobile Manufacturing -- The Salaried Engineer and Firm Differentiation -- The Small- and Medium-Size Firm -- The Modern Industrial Enterprise -- Learning at the Hyundai Motor Company (HMC) Japan's Influence on Korea's Small- and Medium-Size FirmThe Subcontracting Network of the Hyundai Motor Company (HMC) -- Subcontracting: A Summary -- 8. The Paradox of “Unlimited� Labor and Rising Wages -- Labor in Late Industrialization -- Labor Supply -- The Rate of Pay -- The Reasons Behind Rising Real Wages -- The Skills of the New Labor Aristocracy of Late Industrialization -- Conclusion -- 9. The Boom in Education -- Late Industrialization and the Level of Education -- The Ambiguities of Korea's Outstanding Investments in Education Summary The rise of South Korea as a major economic power in the Far East, challenging even Japan for world markets, has been widely noted. This is a book about how late industrialization, taking place in the 20th century, especially since the Second World War, has brought about the growth of the South Korean economy. It also compares the late industrialization experiences of other countries such as Taiwan, Brazil, Turkey, India, and Mexico, and draws conclusions regarding why some countries have been successful and others have not. The author argues that Korea has been successful because the government not only subsidized and protected certain industries, but it also demanded strict performance standards from those it helped. The author also examines the role of labour and education in creating good conditions for economic growth Notes ""The Educational Level of Production Workers"" Print version record Subject Industries -- Korea (South) Industrial policy -- Korea (South) Economic history Economic policy Industrial policy Industries SUBJECT Korea (South) -- Economic conditions -- 1960-1988. http://id.loc.gov/authorities/subjects/sh85073059 Korea (South) -- Economic policy -- 1960-1988. http://id.loc.gov/authorities/subjects/sh85073061 Subject Korea (South) Form Electronic book ISBN 9780198022473 0198022476

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