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The Development Experience of the Korean Machinery Industry and its Implications for Developing Countries

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Abstract

The machinery industry is a very difficult sector to develop in the short term. It is also not easy to drastically shorten the developmental period. Therefore, it is necessary for developing countries to thoroughly review Korea’s policy trends when designing machinery industry policies. This paper outlines various factors and the implications they carry, which major developing countries such as Indonesia, Malaysia and Vietnam should consider when establishing detailed policies to nurture their machinery industries.

Suggested Citation

  • Park, Kwang-Soon, 2018. "The Development Experience of the Korean Machinery Industry and its Implications for Developing Countries," Occasional Papers 18/3, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietop:2018_003
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    More about this item

    Keywords

    development policy; industrial development; machinery industry; technological development; innovation; R&D; economic history; sectoral history; industrial policy; enterprise policy;
    All these keywords.

    JEL classification:

    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L64 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Machinery; Business Equipment; Armaments
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • M54 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Labor Management
    • N65 - Economic History - - Manufacturing and Construction - - - Asia including Middle East
    • N85 - Economic History - - Micro-Business History - - - Asia including Middle East
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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