Catch-up and Crisis in Korea

by Wontack Hong

Overview

Korea has experienced one of the most profound economic transformations of any nation in history, and remains a very important focus of academic inquiry.

Whilst the process of catch-up in Korea - led by export-oriented growth - has been rapid and, in a sense, very successful, it has also been subject to turbulence, not least in a crisis of near bankruptcy that has dramatically revealed its Achilles heel. Informed by the 1997 crisis, Wontack Hong writes a new history of the Korean economy; one that seeks to understand export-oriented catch-up in newly industrialized countries (NICs) whilst offering a realistic appraisal and forewarning of the pitfalls which could signal self-destruction.

Catch-up and Crisis in Korea offers a balanced perspective on the Korean economy, and on newly industrialized countries in general, for those who have a serious interest in understanding the industrialization process.

Product Details

ISBN-13:	9781840649178
Publisher:	Edward Elgar Publishing
Publication date:	01/27/2003
Pages:	176
Product dimensions:	6.12(w) x 9.25(h) x (d)

About the Author

Wontack Hong, former Professor of Economics, Seoul University, South Korea

Table of Contents

Contents: Preface 1. Introduction: Catch-Up 2. Export-Oriented Growth: Positive Aspects 3. Institutionalizing an Export-Oriented Regime 4. Trade Pattern in the Early Phase of Catch-Up 5. The Engine of Catch-Up: Big Conglomerates 6. Growth and Equity 7. Experiences of East Asian NICs 8. The Legacy of Korea’s Credit Rationing System 9. The Political Economy of the Korean Model Appendix 1: Major Statistical Indicators: Korea Appendix 1: Major Statistical Indicators: Taiwan Bibliography Index