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Accumulating human capital for sustainable development

In: Human Capital and Development

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Abstract

Over the last half century, Korea successfully escaped from poverty and socio-economic instability to achieve remarkable economic growth and democracy. An average Korean lived on 2.3 dollars per day in the 1950s; she now earns about 60 dollars per day. Since 1960, the Korean economy has maintained a 6 percent annual growth rate of real GDP per capita, becoming the 13th largest economy in the world (Maddison Project, 2013). This achievement is regarded as a historic case of sustainable growth. While several factors contributed to this outstanding growth, there is emerging consensus that Korea’s achievement of both sustained economic development and democracy is mainly due to its investment in people. At its initial stage of development, Korea faced problems similar to most other developing countries. To escape from a vicious cycle of poverty, Korea had to overcome a legacy of antiquated traditions in education and training. Koreans had traditionally neglected vocational and technical training, owing partly to Confucianism, which praises scholars of the humanities and farmers while disregards professions in manufacturing and trade. Because parents encouraged their children to pursue academic education in colleges and hold white-collar jobs, industries lagged behind with few technicians, skilled workers, and blue-collar workers. To make matters worse, Japanese colonial rule prohibited Koreans from accumulating both physical and human capital for entrepreneurship in industrial sectors. The three years of the Korean War with the division of the Korean peninsula also devastated the economic and social infrastructure and fundamentals for economic growth.

Suggested Citation

  • ., 2018. "Accumulating human capital for sustainable development," Chapters, in: Human Capital and Development, chapter 1, pages 8-40, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:17648_1
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    Cited by:

    1. Bari L. Bendell, 2022. "Environmental investment decisions of family firms—An analysis of competitor and government influence," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 1-14, January.
    2. Zhu Weimin & Muhammad Zubair Chishti, 2021. "Toward Sustainable Development: Assessing the Effects of Commercial Policies on Consumption and Production-Based Carbon Emissions in Developing Economies," SAGE Open, , vol. 11(4), pages 21582440211, December.
    3. Sumaiya Jarin Ahammed & Rajab Homsi & Najeebullah Khan & Shamsuddin Shahid & Mohammed Sanusi Shiru & Morteza Mohsenipour & Kamal Ahmed & Nadeem Nawaz & Nor Eliza Alias & Ali Yuzir, 2020. "Assessment of changing pattern of crop water stress in Bangladesh," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 22(5), pages 4619-4637, June.
    4. Leonardo S. Alaimo & Filomena Maggino, 2020. "Sustainable Development Goals Indicators at Territorial Level: Conceptual and Methodological Issues—The Italian Perspective," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 147(2), pages 383-419, January.
    5. Anetta Barska & Janina Jędrzejczak-Gas & Joanna Wyrwa & Krzysztof Kononowicz, 2020. "Multidimensional Assessment of the Social Development of EU Countries in the Context of Implementing the Concept of Sustainable Development," Sustainability, MDPI, vol. 12(18), pages 1-24, September.
    6. Sedova, Barbora & Kalkuhl, Matthias, 2020. "Who are the climate migrants and where do they go? Evidence from rural India," World Development, Elsevier, vol. 129(C).
    7. Cameron Allen & Graciela Metternicht & Thomas Wiedmann, 2021. "Priorities for science to support national implementation of the sustainable development goals: A review of progress and gaps," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(4), pages 635-652, July.
    8. Jonathan Liljeblad & Khin Thinn Thinn Oo, 2020. "World heritage sustainable development policy & local implementation: Site management issues using a case study of Sri Ksetra at Pyu ancient cities in Myanmar," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(3), pages 468-477, May.
    9. Jing Bian & Hong Ren & Ping Liu & Yu Zhang, 2018. "Sustainable Urbanization Performance Evaluation Based on “Origin” and “Modernization” Perspectives: A Case Study of Chongqing, China," IJERPH, MDPI, vol. 15(8), pages 1-17, August.
    10. van Zyl-Bulitta, Verena Helen & Ritzel, Christian & Stafford, William & Wong, James Gien, 2019. "A compass to guide through the myriad of sustainable energy transition options across the global North-South divide," Energy, Elsevier, vol. 181(C), pages 307-320.
    11. Changchun Zhu & Jianguo Du & Fakhar Shahzad & Muhammad Umair Wattoo, 2022. "Environment Sustainability Is a Corporate Social Responsibility: Measuring the Nexus between Sustainable Supply Chain Management, Big Data Analytics Capabilities, and Organizational Performance," Sustainability, MDPI, vol. 14(6), pages 1-20, March.
    12. Joan Hereu-Morales & César Valderrama, 2022. "Towards a Sustainability-Based Society: An Analysis of Fundamental Values from the Perspective of Economics and Philosophy," Sustainability, MDPI, vol. 14(14), pages 1-14, July.
    13. Robin Hogrefe & Sabine Bohnet-Joschko, 2023. "The Social Dimension of Corporate Sustainability: Review of an Evolving Research Field," Sustainability, MDPI, vol. 15(4), pages 1-22, February.
    14. Stutz, Adrian & Schell, Sabrina & Hack, Andreas, 2022. "In family firms we trust – Experimental evidence on the credibility of sustainability reporting: A replication study with extension," Journal of Family Business Strategy, Elsevier, vol. 13(4).

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