Economic growth in South Korea: government or free market achievement?

Download
Author
Rebelo, Antonio Carlos Stangherlin.
Date
1995-12Advisor
Henderson, David R.
Terasawa, Katsuaki L.
Metadata
Show full item recordAbstract
This thesis is an attempt to access how good has been the South Korean economic performance since the end of the Korean War and how interventionist the government has been, and to decide what has been responsible for the economic growth, the government or the free market. The main indicators of the Korean performance and the roles of the government and of the free market on the economy are discussed. A regression is run relating the GDP growth rate to the degree of trade liberalization and government spending. The findings can be summarized as follows: (1) The Korean performance has been outstanding. (2) The government and free market's roles and their contributions to the economic growth have varied in different periods in the Korean economy. First was the period from the end of the Korean War until the military coup of 1961, with government highly interventionist, the free market repressed, and poor results. Second was the period from 1961 until 1980, characterized by an interplay between the government and the free market leading to a high economic growth. Third was the period from 1980 to the present, the liberalization period, with market forces being the main source of the high economic growth. (3) The economy has been negatively affected by government spending and trade restrictions.
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.Collections
Related items
Showing items related by title, author, creator and subject.
-
Koreans in Japan : their influence on Korean-Japanese relations.
Lee, Alice K. (Monterey, California. Naval Postgraduate School, 1979-09);Since the Japanese annexation of Korea in 1910, many Koreans migrated to Japan seeking a livelihood. The majority of these emigrants were in the lowest economic status of Japanese society. After World War II, of the 2.5 ... -
Senegal the economic reforms and the influence of the informal sector on the economic reform process
Ndiaye, Modiene. (Monterey, California. Naval Postgraduate School, 2002-06);After a severe economic crisis, the Senegalese government was strongly committed to restructuring an economy that was close to financial collapse. To restore economic growth and efficiency, Senegal implemented political ... -
Sub-Saharan Africa and the Market Economy A Way Forward
Runsewe, Babafemi. (2008-03);The thesis examines what economic policies are most suited for African countries in the light of the poor economic performances over the years. Policy prescriptions have varied from the state getting actively involved in ...