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South Korea in the Fast Lane: Economic Development and Capital Formation

Author

Listed:
  • Chung, Young-Iob

    (Eastern Michigan University (Emeritus))

Abstract

After having been a Japanese colony for more than 35 years until 1945, the miraculous economic development in the southern half of the Korean peninsula has multiplied the nations output nearly 38 times and expanded per capita income by 16 times from $778 to $12,422 (in year 2000 prices) and transformed from basically an agrarian economy to that of a major industrial power, which is now considered one of a dozen or so of most industrialized countries in the world, during the 43-year period between 1953 and 1996. This book is a study of development of the South Korean economy from the time of the cessation of the Korean War to date, based on available data with minimal historical description, focusing on investment, the sources and means of capital formation, which is one of the most critical factors that contributed to economic development, and the government role of in them for economic growth and structural changes. The approach in this study is more analytical (without being mathematical, statisti Available in OSO: http://www.oxfordscholarship.com/oso/public/content/economicsfinance/9780195325454/toc.html

Suggested Citation

  • Chung, Young-Iob, 2007. "South Korea in the Fast Lane: Economic Development and Capital Formation," OUP Catalogue, Oxford University Press, number 9780195325454.
    • Handle: RePEc:oxp:obooks:9780195325454
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    Cited by:

    1. B. Bakhtyar & Ch. Lim & Y. Ibrahim & R. Islam & K. Sopian, 2014. "Moving Up On Solar Industry Value Chain: A Respond To World Bank’S Prescription For Malaysia," American Journal of Economics and Business Administration, Science Publications, vol. 6(2), pages 72-80, July.
    2. Jose Asturias & Sewon Hur & Timothy J. Kehoe & Kim J. Ruhl, 2023. "Firm Entry and Exit and Aggregate Growth," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(1), pages 48-105, January.
    3. Henry Wai-chung Yeung, 2017. "State-led development reconsidered: the political economy of state transformation in East Asia since the 1990s," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 10(1), pages 83-98.
    4. Pietrobelli C. & Puppato F., 2015. "Technology foresight and industrial strategy in developing countries," MERIT Working Papers 2015-016, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    5. Pietrobelli, Carlo & Puppato, Fernanda, 2016. "Technology foresight and industrial strategy," Technological Forecasting and Social Change, Elsevier, vol. 110(C), pages 117-125.
    6. Kevin Gray, 2013. "Aid and Development in Taiwan, South Korea, and South Vietnam," WIDER Working Paper Series wp-2013-085, World Institute for Development Economic Research (UNU-WIDER).
    7. Peter Draper & Andreas Freytag & Sören Scholvin & Luong Thanh Tran, 2016. "Is a ‘Factory Southern Africa’ Feasible?," World Bank Publications - Reports 23788, The World Bank Group.
    8. Gray, Kevin, 2013. "Aid and Development in Taiwan, South Korea, and South Vietnam," WIDER Working Paper Series 085, World Institute for Development Economic Research (UNU-WIDER).
    9. Peter Draper & Andreas Freytag & Sören Scholvin & Luong Thanh Tran, 2016. "Is a 'Factory Southern Africa' Feasible? Harnessing Flying Geese to the South African Gateway," CESifo Working Paper Series 5867, CESifo.
    10. Kevin Gray, 2014. "U.S. Aid and Uneven Development in East Asia," The ANNALS of the American Academy of Political and Social Science, , vol. 656(1), pages 41-58, November.
    11. Aminullah, Erman, 2024. "Forecasting of technology innovation and economic growth in Indonesia," Technological Forecasting and Social Change, Elsevier, vol. 202(C).
    12. Sethi, Amarjit Singh & Kaur, Supreet, 2013. "Physical Capital Formation And Income Relationships: A Temporal Analysis For Punjab And Haryana," Journal of Regional Development and Planning, Rajarshi Majumder, vol. 2(2), pages 109-130.
    13. Dennis Patterson & Jangsup Choi, 2018. "Diplomacy, trade, and South Korea’s rise to international influence," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 21(1), pages 9-27, March.
    14. Yu Huang & Yuejing Ge & Wei Hu, 2019. "Multiple Dynamic Mechanisms of Globalization: Alternatives to Capitalism," Sustainability, MDPI, vol. 11(19), pages 1-15, September.

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