Industrializing through Learning
This is a book not only about South Korea and how it came to be a major factor in the world economy, but also about the industrialization process that South Korea followed. This process, which will be referred to as late industrialization, has profound implications for a range of other countries that are also struggling to compete in the world of international business. South Korea's success in this struggle can thus be seen both as a fascinating story in itself, and as an example from which others may learn. It is also an example of a new way of industrializing that challenges long‐held assumptions of generations of economic thinkers. This is discussed in the different sections of this chapter which cover: learning as a new mode of industrialization; the relative speeds of industrialization in different eras; South Korea as a special case of late industrialization; the role of the state (government) in late industrialization; the process of catching up; and overcoming technological ignorance.
Keywords: economic growth, government control, late industrialization, learning, South Korea
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