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Korea�s Saemaul Undong Revisited as Rural Development Game for Poverty Eradication: A New Development Economics Perspective (Article)

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  • Sung-Hee Jwa

    (Korea Economic Research Institute in the Republic of Korea.)

Abstract

The 2019 Nobel Prize in Economics for Randomized Controlled Trials (RCT) has sparked the popularity of an experimental approach to poverty alleviation. This paper delves into this theme by revisiting the highly successful case of Korea�s Saemaul Undong (New Village Movement) during the 1970s, which served as a precursor to such experimental approaches in economic development. It presents a comprehensive model of rural development aimed at poverty eradication, emphasizing the vital role of three key entities: the villagers, village organizations, and government, all operating under the principles of economic discrimination outlined in the new general theory of economic development. As a framework for rural development, this trinity model offers potential enhancements to existing market-oriented and villager-centered rural development approaches, as well as to the RCT model.

Suggested Citation

  • Sung-Hee Jwa, 2024. "Korea�s Saemaul Undong Revisited as Rural Development Game for Poverty Eradication: A New Development Economics Perspective (Article)," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 63(1), pages 19-44.
    • Handle: RePEc:pid:journl:v:63:y:2024:i:1:p:19-44
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    File URL: https://file.pide.org.pk/pdfpdr/2024/19-44.pdf
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    References listed on IDEAS

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    1. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-795, December.
    2. Sung-Hee Jwa, 2018. "Achieving the Shared Economic Growth," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 57(1), pages 45-71.
    3. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    4. Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, September.
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    More about this item

    Keywords

    Korea�s Saemaul Undong; Economic Discrimination; General Theory of Economic Development; Rural Development; Poverty Eradication;
    All these keywords.

    JEL classification:

    • B - Schools of Economic Thought and Methodology
    • D - Microeconomics
    • O - Economic Development, Innovation, Technological Change, and Growth
    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • R - Urban, Rural, Regional, Real Estate, and Transportation Economics

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