The Korean Miracle (1962–80) Revisited: Myths and Realities in Strategies and Development
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South Korea’s ‘rags-to-riches’ development is often cited as a ‘man-made’ miracle. It is a miracle in the sense that in the span of the past three decades the country underwent the kind of structural transformation that today’s industrialized countries took almost a century to achieve.1 The transformation was accomplished with relatively equitable income distribution by international standards.2
KeywordsDirect Foreign Investment Foreign Investment Comparative Advantage Real Wage Capital Good
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