Trade Policy for Development: Paradigm Shift from Mercantilism to Liberalism
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At the end of 2011, the Republic of Korea (hereinafter Korea) became the ninth country to join the “one-trillion-dollar trading club,” departing from the ranks of newly emerging countries to join the ranks of trade giants. After reaching the $100 million mark in 1964, Korea’s exports grew more than five thousand times in 47 years, making it the seventh-largest exporting country in the world. Its economic development model has been characterized as export-oriented industrialization (EOI).
KeywordsGross Domestic Product International Monetary Fund Trade Policy Asian Financial Crisis Export Promotion
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