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International Trade and Exchange Rates

In: Historical Statistics of Korea

Author

Listed:
  • Nak Nyeon Kim

    (Dongguk University)

  • Ki-Joo Park

    (Sungshin Women’s University)

Abstract

The South Korean growth miracle is often described as being driven by export promotion, a type of industrial policy that caused the South Korean economy to become more open to the rest of the world than it would have been without the policy intervention. Occupying Korea as a colonial possession, Japan incorporated the country into a free trade area known as the Japanese empire, which led intra-empire trade to grow quickly to account for the lion’s share of colonial Korea’s overseas trade. The openness of the Korean economy in the past century stands in contrast to the autarky prevailing until 1876, when Japan sent gunboats to force dynastic Korea to open itself to foreign trade.

Suggested Citation

  • Nak Nyeon Kim & Ki-Joo Park, 2022. "International Trade and Exchange Rates," Studies in Economic History, in: Myung Soo Cha & Nak Nyeon Kim & Ki-Joo Park & Yitaek Park (ed.), Historical Statistics of Korea, chapter 0, pages 1193-1268, Springer.
    • Handle: RePEc:spr:stechp:978-981-15-3874-2_22
    DOI: 10.1007/978-981-15-3874-2_22
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