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Korea as a Knowledge Economy : Evolutionary Process and Lessons Learned


  • Joonghae Suh
  • Derek H. C. Chen


This report on Korea is geared towards policy makers from developing countries that are in the midst of, or are intending to, embark on the transition towards the knowledge economy. It provides pragmatic policy lessons drawn from Korea's forty-five years of knowledge-based growth. This report not only looks at the current policies and challenges of today's high income Korea, but also reviews its historical economic development since the 1960s when Korea was still a low income country. It follows Korea through the decades as it undertook an array of knowledge strategies that propelled it through the various income levels. This report therefore provides compelling policy lessons that are relevant for developing countries at different stages of economic development.

Suggested Citation

  • Joonghae Suh & Derek H. C. Chen, 2007. "Korea as a Knowledge Economy : Evolutionary Process and Lessons Learned," World Bank Publications - Books, The World Bank Group, number 6755, December.
  • Handle: RePEc:wbk:wbpubs:6755

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    References listed on IDEAS

    1. Rodrik, Dani, 2004. "Industrial Policy for the Twenty-First Century," CEPR Discussion Papers 4767, C.E.P.R. Discussion Papers.
    2. Michael Hobday, 1995. "Innovation In East Asia," Books, Edward Elgar Publishing, number 226.
    3. Duck-Koo Chung & Barry Eichengreen (ed.), 2004. "The Korean Economy Beyond the Crisis," Books, Edward Elgar Publishing, number 3262.
    4. Sanjaya Lall & Shujiro Urata (ed.), 2003. "Competitiveness, FDI and Technological Activity in East Asia," Books, Edward Elgar Publishing, number 2837.
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    Cited by:

    1. Ramona - Diana LEON, 2017. "Measuring the Knowledge Economy: A National and Organizational Perspective," Management Dynamics in the Knowledge Economy, College of Management, National University of Political Studies and Public Administration, vol. 5(2), pages 227-249, June.
    2. Oasis Kodila†Tedika & Simplice A. Asongu, 2018. "Does Intelligence Affect Economic Diversification?," German Economic Review, Verein für Socialpolitik, vol. 19(1), pages 74-93, February.
    3. Jose Asturias & Sewon Hur & Timothy J. Kehoe & Kim J. Ruhl, 2023. "Firm Entry and Exit and Aggregate Growth," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(1), pages 48-105, January.
    4. Simplice A. Asongu & Nicholas M. Odhiambo, 2020. "Building Knowledge-Based Economies in Africa: A Systematic Review of Policies and Strategies," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(4), pages 1538-1555, December.
    5. Marcelo Selowsky & Claudio Loser, 2015. "Improving Microeconomic Efficiency of Latin American Economies," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 7(2), pages 121-149, May.
    6. Vanessa S. Tchamyou & Simplice A. Asongu & Nicholas M. Odhiambo, 2019. "The Role of ICT in Modulating the Effect of Education and Lifelong Learning on Income Inequality and Economic Growth in Africa," African Development Review, African Development Bank, vol. 31(3), pages 261-274, September.
    7. Asian Development Bank (ADB), 2014. "Innovative Asia: Advancing the Knowledge-Based Economy: The Next Policy Agenda," ADB Reports RPT146801-3, Asian Development Bank (ADB).
    8. Asongu, Simplice & Amavilah, Voxi & Andrés, Antonio R., 2014. "Economic Implications of Business Dynamics for KE-Associated Economic Growth and Inclusive Development in African Countries," MPRA Paper 63793, University Library of Munich, Germany.
    9. Simplice A. Asongu, 2017. "Knowledge Economy Gaps, Policy Syndromes, and Catch-Up Strategies: Fresh South Korean Lessons to Africa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(1), pages 211-253, March.
    10. Constant, Amelie F. & Tien, Bienvenue N., 2011. "Surviving the Turbulence Is Not Enough: Can Côte d'Ivoire Flourish Again?," IZA Policy Papers 30, Institute of Labor Economics (IZA).
    11. Daniela-Mihaela NEAMTU & Oana CIOBANU, 2017. "The Knowledge Revolution And Its Impact On Global Economic Development In The Knowledge Economy," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(1), pages 297-305, November.
    12. Simplice A. Asongu & Voxi H. S. Amavilah & Antonio R. Andres, 2019. "Business Dynamics, Knowledge Economy, and the Economic Performance of African Countries," Research Africa Network Working Papers 19/004, Research Africa Network (RAN).
    13. Vanessa Simen Tchamyou, 2017. "The Role of Knowledge Economy in African Business," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(4), pages 1189-1228, December.
    14. Freeman, Richard Barry, 2015. "Knowledge, Knowledge … Knowledge for My Economy," Scholarly Articles 33496270, Harvard University Department of Economics.
    15. Vanessa Simen Tchamyou, 2020. "Education, lifelong learning, inequality and financial access: evidence from African countries," Contemporary Social Science, Taylor & Francis Journals, vol. 15(1), pages 7-25, January.
    16. Freeman, Richard B., 2015. "Knowledge, Knowledge… Knowledge for My Economy," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 37(2), pages 1-21.
    17. Shumaila Zeb, 2022. "The role of knowledge economy in Asian business," Future Business Journal, Springer, vol. 8(1), pages 1-13, December.
    18. Ha, Joonkyung & Jin Kim, Yong & Lee, Jong-Wha, 2009. "The Optimal Structure of Technology Adoption and Creation: Basic Research vs. Development in the Presence of Distance to Frontier," ADB Economics Working Paper Series 163, Asian Development Bank.
    19. Octavian Serban, 2020. "Multilevel Upgrade of the Knowledge Economy Pyramid Model - The Correlation between Productivity and Competitiveness, and Impact on the Standard of Living," Book chapters-LUMEN Proceedings, in: Marcin Waldemar STANIEWSKI & Valentina VASILE & Adriana Grigorescu (ed.), International Conference Innovative Business Management & Global Entrepreneurship (IBMAGE 2020), edition 1, volume 14, chapter 56, pages 758-774, Editura Lumen.
    20. Larson, James F. & Park, Jaemin, 2014. "From developmental to network state: Government restructuring and ICT-led innovation in Korea," Telecommunications Policy, Elsevier, vol. 38(4), pages 344-359.
    21. ., 2010. "The Korean Economy: Transition to a Knowledge-based Economy," Chapters, in: The Korean Economy in Transition, chapter 4, Edward Elgar Publishing.
    22. Choi, Y.-S., 2020. "Smart city development projects in the Republic of Korea," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 6(1), pages 40-49.

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