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The Transition to Export-led Growth in South Korea: 1954–1966

Published online by Cambridge University Press:  23 March 2011

Stephan Haggard ,
Byung-Kook Kim  and
Chung-in Moon
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Extract

Two basic positions have framed recent debates about South Korea's remarkable economic growth. The neoclassical position traces South Korea's take-off to a set of policy reforms in 1964 and 1965 that launched the country on the path toward export-led growth (Frank, Kim, and Westphal 1975; Kuznets 1977; Krueger 1979). Policy was far from laissez-faire, but on the whole, the reforms moved Korea in a more market-oriented direction that sought to exploit Korea's comparative advantage. The “statists,” by contrast, detail the pervasive intervention of the Korean government in the economy, even after the shift toward an outward-oriented strategy. Moreover, they argue that such intervention promoted rapid economic growth (Leudde-Neurath 1985; Jones and Sakong 1980; Amsden 1989).

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Articles
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The Journal of Asian Studies , Volume 50 , Issue 4 , November 1991 , pp. 850 - 873
Copyright
Copyright © The Association for Asian Studies, Inc. 1991

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