Jump to ContentJump to Main Navigation
The Strategy for Korea's Economic Success$
Users without a subscription are not able to see the full content.

Hwy-Chang Moon

Print publication date: 2016

Print ISBN-13: 9780190228798

Published to Oxford Scholarship Online: May 2016

DOI: 10.1093/acprof:oso/9780190228798.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 October 2019

Foundations of Korea’s Economic Development

Foundations of Korea’s Economic Development

Chapter:
(p.11) Chapter 1 Foundations of Korea’s Economic Development
Source:
The Strategy for Korea's Economic Success
Author(s):

Hwy-Chang Moon

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190228798.003.0002

Korea’s rapid economic development can be explained by three factors: the development of human resource, the strategic accumulation of capital resource, and the rise in productivity. The human resource explains and differentiates the development of Korean education through an effective spread of education and the competitive ecosystem of public and private sectors, and school and company education. Capital accumulation, on the other hand, highlights the efficient role of chaebol and the government’s targeted efforts to raise much-needed funds for the economy. Finally, the total factor productivity explains the efficient allocation of human and capital resources through an effective cooperation between the government and business with the strong government leadership. Together, these factors form the backdrop of Korea’s rapid economic development.

Keywords:   Korea, economic development, human resource, capital resource, total factor productivity, education, chaebol, government

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .