IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/58250.html

Some Lessons from Korea's Industrialization Strategy and Experience

Author

Listed:
  • Sta. Romana, Leonardo L.

Abstract

We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its economic management of the industrialization effort. Finally, we reflect on the lessons from the Korean experience.

Suggested Citation

  • Sta. Romana, Leonardo L., 2014. "Some Lessons from Korea's Industrialization Strategy and Experience," MPRA Paper 58250, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:58250
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/58250/1/MPRA_paper_58250.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Irma Adelman, 1999. "Lessons from (S) Korea," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 2(2), pages 57-72, November.
    2. repec:wbk:wbpubs:6507 is not listed on IDEAS
    3. David L. Lindauer & Lant Pritchett, 2002. "What’s the Big Idea? The Third Generation of Policies for Economic Growth," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2002), pages 1-40.
    4. Kiichiro Fukasaku & Masahiro Kawai & Michael G. Plummer & Alexandra Trzeciak-Duval, 2005. "Policy Coherence Towards East Asia: Development Challenges for OECD Countries," OECD Development Centre Policy Briefs 26, OECD Publishing.
    5. Anne O. Krueger & Jungho Yoo, 2002. "Chaebol Capitalism and the Currency-Financial Crisis in Korea," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 601-662, National Bureau of Economic Research, Inc.
    6. Françoise Nicolas & Stephen Thomsen & Mi-Hyun Bang, 2013. "Lessons from Investment Policy Reform in Korea," OECD Working Papers on International Investment 2013/2, OECD Publishing.
    7. Marcus Noland & Howard Pack, 2005. "The East Asian Industrial Policy Experience: Implications for the Middle East," Working Paper Series WP05-14, Peterson Institute for International Economics.
    8. John Weiss, 2005. "Export Growth and Industrial Policy: Lessons from the East Asian Miracle Experience," IDB Publications (Working Papers) 47618, Inter-American Development Bank.
    9. Westphal, Larry E, 1990. "Industrial Policy in an Export-Propelled Economy: Lessons from South Korea's Experience," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 41-59, Summer.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Scheifele, F. & Bräuning, M. & Probst, B., 2022. "The impact of local content requirements on the development of export competitiveness in solar and wind technologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    2. Anis Chowdhury, 2008. "Labor Market Policies as Instruments of Industry Policy: What Can Europe Learn from Southeast Asia?," American Journal of Economics and Sociology, Wiley Blackwell, vol. 67(4), pages 661-681, October.
    3. David Tarr, 2005. "Government (Industrial) Policies for Competitiveness in a Global Economy," World Bank Publications - Reports 25929, The World Bank Group.
    4. Murat A. Yülek, 2017. "On the Middle Income Trap, the Industrialization Process and Appropriate Industrial Policy," Journal of Industry, Competition and Trade, Springer, vol. 17(3), pages 325-348, September.
    5. Tzeng, Cheng-Hua, 2010. "Managing innovation for economic development in greater China: The origins of Hsinchu and Zhongguancun," Technology in Society, Elsevier, vol. 32(2), pages 110-121.
    6. Richard Baldwin, 2013. "Trade and Industrialization after Globalization's Second Unbundling: How Building and Joining a Supply Chain Are Different and Why It Matters," NBER Chapters, in: Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century, pages 165-212, National Bureau of Economic Research, Inc.
    7. Volpe Martincus, Christian & Carballo, Jerónimo, 2010. "Beyond the average effects: The distributional impacts of export promotion programs in developing countries," Journal of Development Economics, Elsevier, vol. 92(2), pages 201-214, July.
    8. Piyusha Mutreja & Michael Sposi & B. Ravikumar, 2018. "Capital Goods Trade, Relative Prices and Economic Development," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 27, pages 101-122, January.
    9. repec:grz:wpsses:2015-03 is not listed on IDEAS
    10. Alvarez, Roberto, 2007. "Explaining Export Success: Firm Characteristics and Spillover Effects," World Development, Elsevier, vol. 35(3), pages 377-393, March.
    11. V. L. Tambovtsev, 2019. "Institutions-technologies interaction and economic growth," Journal of New Economy, Ural State University of Economics, vol. 20(2), pages 55-70, May.
    12. Lei, Zhenhuan & Nugent, Jeffrey B., 2018. "Coordinating China's economic growth strategy via its government-controlled association for private firms," Journal of Comparative Economics, Elsevier, vol. 46(4), pages 1273-1293.
    13. Yamagata, Tatsufumi, 2007. "Securing Medical Personnel: Case Studies of Two Source Countries and Two Destination Countries," IDE Discussion Papers 105, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    14. Howard J. Shatz & David G. Tarr, 2017. "Exchange Rate Overvaluation and Trade Protection: Lessons from Experience," World Scientific Book Chapters, in: Trade Policies for Development and Transition, chapter 5, pages 115-127, World Scientific Publishing Co. Pte. Ltd..
    15. Mr. Chris Papageorgiou & Fidel Perez-Sebastian & Mr. Nikola Spatafora, 2019. "Quality Upgrading and Export Performance in the Asian Growth Miracle," IMF Working Papers 2019/259, International Monetary Fund.
    16. Mulu Gebreyesus & Alekaw Kebede, 2017. "Ethiopia’s export promotion and the misalignment of the tariff and exchange rate regimes," Working Papers 019, Policy Studies Institute.
    17. repec:ecr:col025:4439 is not listed on IDEAS
    18. Arslan Razmi & Gonzalo Hernandez, 2011. "Can Asia Sustain an Export-Led Growth Strategy in the Aftermath of the Global Crisis? An Empirical Exploration," Trade Working Papers 23207, East Asian Bureau of Economic Research.
    19. Mateos-Planas, Xavier, 2000. "Creative destruction and public policy in a vintage model of endogenous growth," Discussion Paper Series In Economics And Econometrics 32, Economics Division, School of Social Sciences, University of Southampton.
    20. Masami Imai & Koji Sakai & Michiru Sawada, 2026. "Impaired Credit Dynamism and the Innovation Slowdown," Wesleyan Economics Working Papers 2026-001, Wesleyan University, Department of Economics.
    21. Erinc Yeldan & Wenli Li & Xinshen Diao, 1998. "Challenges and Choices in Post-Crisis East-Asia : Simulations of Investment Policy Reform in an Intertemporal,Global Model," Working Papers 9816, Department of Economics, Bilkent University.
    22. Ricardo A. López, 2005. "Trade and Growth: Reconciling the Macroeconomic and Microeconomic Evidence," Journal of Economic Surveys, Wiley Blackwell, vol. 19(4), pages 623-648, September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • F1 - International Economics - - Trade
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:58250. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.