Korea’s Economic Miracle

1. Front Matter

   Pages i-xx

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2. Introduction: Some Preliminary Observations

   1. Introduction: Some Preliminary Observations

      • Robert Castley

      Pages 1-25

3. Part I

   1. Front Matter

      Pages 27-27

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   2. Japan’s Industrial Restructuring

      • Robert Castley

      Pages 29-77

   3. Japan’s Relationship with Korea

      • Robert Castley

      Pages 78-106

4. Part II

   1. Front Matter

      Pages 107-107

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   2. The Role of Capital and Investment

      • Robert Castley

      Pages 109-145

   3. Japan’s Role in the Development of Korean Technology

      • Robert Castley

      Pages 146-166

   4. Markets and Trade

      • Robert Castley

      Pages 167-192

   5. Marketing

      • Robert Castley

      Pages 193-210

   6. Industrial Organization

      • Robert Castley

      Pages 211-221

5. Part III

   1. Front Matter

      Pages 223-223

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   2. Japan’s Influence on Korea’s Textile Sector

      • Robert Castley

      Pages 225-251

   3. The Heavy Industries

      • Robert Castley

      Pages 252-290

6. Part IV

   1. Front Matter

      Pages 291-291

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   2. A Dependence Relationship?

      • Robert Castley

      Pages 293-327

   3. Can Korea’s Economic Success be Replicated?

      • Robert Castley

      Pages 328-353

7. Back Matter

   Pages 354-396

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Very few developing countries have successfully industrialised. Many are under pressure from international organisations to achieve 'self-sustainable' industrialisation. This is why Korea's case is particularly interesting. There have been many attempts to explain the causes of Koreas' economic miracle. These have focused mainly on the internal factors such as the discipline of the Korean workforce and export-promotion policies. The present study however shows that these factors contributed to Korea's impressive growth but do not explain the reasons for her success. External factors have been more important, the Japanese economy in particular. This book examines therefore in detail the impact of Japan's economic growth on the Korean economy, in particular the stimulating effects of trade, sub-contracting, relocation of industry, investment, loans and technology transfer. It demonstrates how Japan provided a range of goods, services and capitals which were precisely what the newly industrialising country needed.

• economic growth
• Export
• growth
• Import

• Faculty of Economics and Social Studies, University of Manchester, UK

  Robert Castley

Charles Harvie is Associate Professor of Economics at the University of Wollongong, Australia. Hyun-Hoon Lee is in the Department of International Trade at Kangwon National University.

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