haku: @indexterm Korea, south / yhteensä: 169
viite: 108 / 169
| Tekijä: | Collins, S. M. |
| Otsikko: | Lessons from the Korean economic growth |
| Lehti: | American Economic Review
1990 : MAY, VOL. 80:2, p. 104-107 |
| Asiasana: | ECONOMIC GROWTH KOREA, SOUTH INVESTMENT MACROECONOMICS ECONOMIC POLICY |
| Kieli: | eng |
| Tiivistelmä: | Distinguishing aspects of Korea's economic growth are examined, and it is argued that these factors contain lessons for policy makers in other countries struggling to revive stagnant economies. These lessons are: first, a stable political environment provides a solid stage for adjusting to internal and external shocks, and second, investment in both physical and human capital is a key to economic growth. In Korea, increased factor inputs alone accounted for an average annual growth rate of over 5 p.c. during the 1970s. A third important lesson is that, even in Korea, breathing space in the form of continued capital inflows played a key role in reviving and sustaining growth after 1980. |
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