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KDI연구

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거시

Working Paper

Challenges to the Newly Industrialized Countries : A Reinterpretation of Korea's Growth Experience

페이스북
커버이미지
  • 저자 유정호(兪正鎬)
  • 발행일 1996/09/01
  • 시리즈 번호 9608
원문보기
요약 Section 2 briefly reviews Korea`s growth and
industrialization and the government policies. While the Korean
experience is often cited as a supporting evidence of the
revisionist view, the proponents seldom make distinction between
the policies of the 1960s and those of the 1970s which were
very different in nature. Section 3 provides critical assessment of
the revisionist view in light of Korean experience, first by
clarifying the difference between the government policies
between the two decades and then by evaluating the effects of
the Heavy and Chemical Industry Policy of the 1970s.

Section 4 considers the influence of the world market on a
country`s growth and industrialization. The focus is on
whether the gains to be made from interaction with the world
market gas increased over time. from the U.K. to the NICs,
the pace of growth and industrialization has certainly
accelerated. There seem to be good reasons to believe that
bigger gains can be made these days than in the days of
early industrialization, enabling the countries grow and
industrialize faster that actively engage in trade and other
interactions with the world market. If this is the case, rapid
industrialization of the NICs need not be as surprising as it
appears.

Section 5 attempts to look ahead for the challenges that
the world market holds for Korean other NICs and also for
the NEEs. It considers how the nature of national economy
will be changed by the world becoming increasingly integrated
and the policy implication of the changes. Section 6 concludes
by drawing the lessons and challenges from the growth
experience of the NICs in the past and from the implications
of the borderless world economy in the future.
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