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Econ 4450 (2010) Note 17

Econ 4450 (2010) Note 17 - called the Icarus Effect by...

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Econ 4450 Note 17
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Case 9 The three stages of Korean development 1. The initial success of Korean catching – up was export drive after the adoption of outward-oriented development, as President Park took power. Wan (2006) Article 5 formalized the discussion in Jones and Sakong (1980) 2. Next, soon is the rejection of the Taiwan model (as reported in Stern et al, (1995), Industrialization and the state. Two principles are involved: Cross-subsidization and Directed Credit Chaebuls were nurtured to develop Heavy and Chemical Industries. See Wan (2004), Ch. 7. for details
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There was great achievement, but also at great cost, which was
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Unformatted text preview: called the Icarus Effect by Linsu Kim (1997). 3. The most recent stage is the achievement of horizontal division of labor relative to Japan, in memory chips, mostly by the private firms themselves in cell phone, with some support of the State. See the assigned paper by Lee and Lim (2001) on Bb. Government provided specific information, organized research consortium, and declared the adoption of CDMA as Korean standard, to allow Korea becoming a power in cell-phone. This is more technology – specific than anything Taiwan tried. It seems the State is also more involved than for cars, ships....
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Econ 4450 (2010) Note 17 - called the Icarus Effect by...

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