South Korean Economics

Research Paper # 59350

Asian Studies
Economics > International

An analysis of South Korea's economic development strategies.

3,884 words () | 11 sources | MLA | 2005

Paper Summary:

This paper attempts to measure the basic economic and human development indicators of South Korea. Also, internal and external challenges against this country's economy's development are identified. Finally, proposals concerning the economic model that South Korea should apply in order to achieve development, as well as a number of different policies that the economy of this country should follow, are researched and mentioned.

Outline
Abstract
Introduction
Data and Analysis
Human Development Indicators
World Development Indicators
Industrialization of South Korea
Internal and External Challenges
Economic Models
Proposals and Recommendations

From the Paper:

"After world war two, Korea's product facilities and the economy as a whole was destroyed. Korea became mainly dependent on foreign aid and financial assistance especially from US. South Korea was facing a sever scarcity of raw materials in addition to high inflation that had a backward effect on the economy. In 1958, prices were stabilized, as the government intensified its efforts in order to promote industrialization especially in power generation, automobile, Textile, and cement production. As a first step to industrialization, South Korea started to produce fertilizers and steel locally in order to reduce its dependence on importation."