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Government, Business and Finance in Korean Industrial Development

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  • Barry Eichengreen

Abstract

This paper reassesses the roles of government, business and finance in South Korea's economic growth and development. It argues that these extra-market mechanisms were each important, in their own ways, for solving coordination problems that would have otherwise posed obstacles to industrial growth. But what were solutions in the early stages of modern economic growth proved to be impediments later, as the problems that had to be solved changed but the institutions did not.

Suggested Citation

  • Barry Eichengreen, 2012. "Government, Business and Finance in Korean Industrial Development," International Economic Journal, Taylor & Francis Journals, vol. 26(3), pages 357-377, September.
    • Handle: RePEc:taf:intecj:v:26:y:2012:i:3:p:357-377
    DOI: 10.1080/10168737.2012.707871
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    References listed on IDEAS

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    1. Carmen M. Reinhart & Kenneth S. Rogoff & Miguel A. Savastano, 2003. "Debt Intolerance," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(1), pages 1-74.
    2. Cho, Y.J. & Kim, J.K., 1995. "Credit Policies and the Industrialization of Korea," World Bank - Discussion Papers 286, World Bank.
    3. Lim, Wonhyuk, 2003. "Public Enterprise Reform and Privatization in Korea: Lessons for Developing Countries," KDI Policy Studies 2003-04, Korea Development Institute (KDI).
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    Cited by:

    1. Akhand Akhtar Hossain, 2015. "The Evolution of Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 14611.

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