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Secrets Of The South-Korean Economic Miracle

Author

Listed:
  • Ioan Ciobanu

    (Alexandru Ioan Cuza University of Iasi, Faculty of Economics and Business Administration, Iasi, Romania)

  • Ruxandra Ciulu

    () (Alexandru Ioan Cuza University of Iasi, Faculty of Economics and Business Administration)

Abstract

This paper proves that, in order to accomplish the highest economic development at mac-roeconomical level, it is necessary to maintain and manage imbalances, so that they do not become unbearable. For this purpose, South-Koreans have created the ‘South-Korean essentials’, an ex-tremely complex concept, which involves multiple factors that together create the targetted effect. The South-Korean miracle challenges even the neoclassical model. State intervention in the economy is one of the key factors for success due to a planning system based on strict regulations. To these must be added the planning – market relationship, the agriculture – industry nexus and the ‘two feet’ eco-nomic theory.

Suggested Citation

  • Ioan Ciobanu & Ruxandra Ciulu, 2010. "Secrets Of The South-Korean Economic Miracle," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 2010, pages 191-198, july.
  • Handle: RePEc:aic:journl:y:2010:v:se:p:191-198
    as

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    References listed on IDEAS

    as
    1. Gren, Ing-Marie, 2003. "Monetary Green Accounting and Ecosystem Services," Working Papers 86, National Institute of Economic Research.
    2. Herbohn, Kathleen, 2005. "A full cost environmental accounting experiment," Accounting, Organizations and Society, Elsevier, vol. 30(6), pages 519-536, August.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    crossfertilization; disequilibrium; state as actor; structural adjustment; ‘two feet’ economic theory.;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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