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The Korean Development Model: Characteristics and Lessons

In: Economic Development of Korea

Author

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  • Chuk Kyo Kim
Abstract
Korea’s outstanding economic and social performance is attributable to the interaction of various factors whose relative importance cannot be easily gauged. Political stability and strong leadership commitment to development were prerequisites for economic development. The labor force in the 1960s was cheap, but educated and industrious. This backlog of human capital combined with the formulation of an outward-oriented development strategy laid the foundation for remarkable economic achievement…

Suggested Citation

  • Chuk Kyo Kim, 2019. "The Korean Development Model: Characteristics and Lessons," World Scientific Book Chapters, in: Economic Development of Korea, chapter 14, pages 263-271, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813276000_0014
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    More about this item

    Keywords

    Economic Development; Korean Studies; (Northeast) Asian Economics; Economic History;
    All these keywords.

    JEL classification:

    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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