Asia's Next Giant: South Korea and Late Industrialization
Oxford University Press, 1992 - 379 pages
South Korea has been quietly growing into a major economic force that is even challenging some Japanese industries. This timely book examines South Korean growth as an example of "late industrialization," a process in which a nation's industries learn from earlier innovator nations, rather than innovate themselves. Discussing state intervention, shop floor management, and big business groups, Amsden explores the reasons for South Korea's phenomenal growth, paying special attention to the principle of reciprocity in which the government imposes strict performance standards on those industries and companies that it aids. She thereby shows how South Korea, Japan, and Taiwan were able to grow faster than other emerging nations such as Brazil, Turkey, India, and Mexico.
With its new insights, Asia's Next Giant is essential reading for anyone concerned with global competition and the world economy.
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average Bank of Korea capacity capital cement chaebol Chapter Cheil comparative advantage competition costs cotton spinning cotton textiles diversified business group domestic economic development engineers equipment exchange rate expansion exports firms foreign technical assistance growth rate Han'guk Harvard Business School heavy industry HHI's higher Hyundai Hyundai group Hyundai Heavy Industries import indus inflation innovation investment Japan Japanese colonial Korea Development Institute Korean government Korean industrialization labor late industrialization late-industrializing countries learners learning machinery managerial manufacturing ment operations output Park Park Chung Hee percent period plant political POSCO production ratio real wages relatively Samsung group sector Seoul Seoul National University share ship shipbuilding skills South Korea spinning and weaving steel steel-making structure subcontracting subsidies suppliers Table Taiwan textiles industry tion trade United University Press wage increases workers World Bank