Industrialization and the State: The Korean Heavy and Chemical Industry DriveThis volume provides an analytic history of Korea's move away from generalized support for exports of manufactures to a policy of targeting specific industries, as part of the heavy and chemical industry drive of the 1973-1979 period. The heavy and chemical industry drive is sometimes held up as a model for other developing countries as they attempt to develop an industrial sector that is more skill- and capital-intensive. The analysis presented in this volume offers conclusions that may be useful for policy reform in other developing countries. |
Contents
A History of the Heavy and Chemical Industry Program | 17 |
The Role of Markets versus Commands | 39 |
Overview of Results | 63 |
Copyright | |
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aluminum analysis annual Bank Bank of Korea Blue House capital efficiency capital intensity cars chaebol Changwon chemical industries Company competitive construction cost of capital cost-benefit Daewoo developing countries domestic market Economic Planning Board economic rate economists enterprises estimates evaluation exchange rate facilities factors favored firms foreign exchange gross tons HC group HCI drive HCI policy HCI program HCI sector heavy and chemical heavy industry heavy machinery Hyundai Hyundai Heavy Industries Hyundai Motor Company imports incentives increased indirect taxes industrial policy industrial targeting Industry Promotion inflation inputs interest rates Interview investment Iron and Steel Japan Korea Development Institute Korean economy Korean industry KSIC Kwangyang labor Light group Light industries loans measures million tons opportunity cost output percent period plant Pohang POSCO President Park private sector production capacity rate of return ratio Samsung Samsung Electronics Seoul shadow prices share shipbuilding industry ships shipyards success Table trade value-added