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Korea under Siege, 1876-1945Capital Formation and Economic Transformation$
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Young-Iob Chung

Print publication date: 2006

Print ISBN-13: 9780195178302

Published to Oxford Scholarship Online: September 2006

DOI: 10.1093/0195178300.001.0001

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 Economic Reforms and Investment Under Japan

 Economic Reforms and Investment Under Japan

Chapter:
(p.90) 4 Economic Reforms and Investment Under Japan
Source:
Korea under Siege, 1876-1945
Author(s):

Young‐Iob Chung (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0195178300.003.0004

This chapter examines the economic reforms for capital formation and economic transformation, as well as the estimation of aggregate investment in Korea under Japanese rule between 1905 and 1945. The reform measures examined are those that removed economic and political obstacles, and those that established a new infrastructure to accommodate the workings of a government-controlled but market-oriented economy aimed at promoting capital formation and economic development. The estimation of investment considered not only the aggregate sum, but also the different nationalities (namely, Japanese, foreigners, and Koreans). The chapter also evaluates the impact of foreign investment, especially that of the Japanese, on Korean investment in terms of catalytic, linkage, oppression effects, as well as the benefits derived from external economies. Investment in human capital is assessed in terms of the overall expansion of the school system, student enrollments, and educational opportunities for Japanese and Koreans. The analysis includes private education, particularly that of the Christian missionaries, which played an important role in educating future Korean leaders.

Keywords:   economic reforms, economic policies, market-oriented economy, aggregate investment, private investment, external economies, human capital, Christian missionaries

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