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Some Lessons from Korea's Industrialization Strategy and Experience

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  • Sta. Romana, Leonardo L.

Abstract

We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its economic management of the industrialization effort. Finally, we reflect on the lessons from the Korean experience.

Suggested Citation

  • Sta. Romana, Leonardo L., 2014. "Some Lessons from Korea's Industrialization Strategy and Experience," EconStor Preprints 102088, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:102088
    Note: This paper was written in response to a call for papers by the Global Development Network, a public international organization headquartered in New Delhi, with an office in Washington, DC.
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    References listed on IDEAS

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    1. Irma Adelman, 1999. "Lessons from (S) Korea," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 2(2), pages 57-72, November.
    2. Commission on Growth and Development, 2008. "The Growth Report : Strategies for Sustained Growth and Inclusive Development," World Bank Publications - Books, The World Bank Group, number 6507.
    3. Kiichiro Fukasaku & Masahiro Kawai & Michael G. Plummer & Alexandra Trzeciak-Duval, 2005. "Policy Coherence Towards East Asia: Development Challenges for OECD Countries," OECD Development Centre Policy Briefs 26, OECD Publishing.
    4. Anne O. Krueger & Jungho Yoo, 2002. "Chaebol Capitalism and the Currency-Financial Crisis in Korea," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 601-662, National Bureau of Economic Research, Inc.
    5. Françoise Nicolas & Stephen Thomsen & Mi-Hyun Bang, 2013. "Lessons from Investment Policy Reform in Korea," OECD Working Papers on International Investment 2013/2, OECD Publishing.
    6. Marcus Noland & Howard Pack, 2005. "The East Asian Industrial Policy Experience: Implications for the Middle East," Working Paper Series WP05-14, Peterson Institute for International Economics.
    7. John Weiss, 2005. "Export Growth and Industrial Policy: Lessons from the East Asian Miracle Experience," IDB Publications (Working Papers) 47618, Inter-American Development Bank.
    8. Westphal, Larry E, 1990. "Industrial Policy in an Export-Propelled Economy: Lessons from South Korea's Experience," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 41-59, Summer.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    South Korea; Industrialization; East Asia; Economic Planning; Economic Growth; Japanese Economic Model;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • N65 - Economic History - - Manufacturing and Construction - - - Asia including Middle East
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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