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The Role of Government in Economic Development: The Korean Experience

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  • In-Joung Whang

Abstract

Every government, regardless of political ideology, is engaged in the mobilization and allocation of resources, the stabilization. of the national economy, and the promotion of technological innovation. Furthermore, a government plays diverse roles in development: as the guardian of political stability, which is a prerequisite for economic growth, as the instrument for law and order, as the major investor, as a source of development financing, as a powerful agent of social change, as a motivating force behind investment decisions by private business, and as a safeguard of social security. The relative priority assigned to these multifarious roles of government has varied over time to cope with the changing market forces and business environment…

Suggested Citation

  • In-Joung Whang, 1987. "The Role of Government in Economic Development: The Korean Experience," Asian Development Review (ADR), World Scientific Publishing Co. Pte. Ltd., vol. 5(02), pages 70-88.
    • Handle: RePEc:wsi:adrxxx:v:05:y:1987:i:02:n:s0116110587000095
    DOI: 10.1142/S0116110587000095
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