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Asia's Next GiantSouth Korea and Late Industrialization$
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Alice H. Amsden

Print publication date: 1992

Print ISBN-13: 9780195076035

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0195076036.001.0001

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The ABCS of Japanese and Korean Accumulation

The ABCS of Japanese and Korean Accumulation

(p.55) Chapter Three The ABCS of Japanese and Korean Accumulation
Asia's Next Giant

Alice H. Amsden (Contributor Webpage)

Oxford University Press

This chapter is concerned with how acceleration in South Korean investments and exports was activated from the beginning of the 1960s, largely by exploiting its low‐wage advantage. The main emphasis of the chapter is on the details of the competitive advantage of Korea over Japan with regard to the cotton textile industry. The various aspects covered are the emergence of an international division of labor, the model of accumulation pasted together by the Korean military regime in the early 1960s, Korean trade policies (import restrictions, export dependence and incentives, the tariff structure), and Korean investment policy.

Keywords:   cotton textile industry, economic development, export dependence, government control, import restrictions, incentives, international division of labor, investment policy, Japan, low wages, market competition, South Korea, tariffs, trade policy

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