From Miracle to Maturity

From Miracle to Maturity

Author: Barry Eichengreen

Publisher: BRILL

Published: 2020-05-11

Total Pages: 395

ISBN-13: 1684175267

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"The economic growth of South Korea has been a remarkable success story. After the Korean War, the country was one of the poorest economies on the planet; by the twenty-first century, it had become a middle-income country, a member of the Organization of Economic Cooperation and Development (the club of advanced economies), and home to some of the world’s leading industrial corporations. And yet, many Koreans are less than satisfied with their country’s economic performance, given the continuing financial volatility and sluggish growth since the Korean economic crisis of 1997–1998.From Miracle to Maturity offers a comprehensive qualitative and quantitative analysis of the growth of the Korean economy, starting with the aggregate sources of growth (growth of the labor force, the stock of capital, and productivity) and then delving deeper into the roles played by structural change, exports, foreign investment, and financial development. The authors provide a detailed examination of the question of whether the Korean economy is now underperforming and ask, if so, what can be done to solve the problem."


Book Synopsis From Miracle to Maturity by : Barry Eichengreen

Download or read book From Miracle to Maturity written by Barry Eichengreen and published by BRILL. This book was released on 2020-05-11 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The economic growth of South Korea has been a remarkable success story. After the Korean War, the country was one of the poorest economies on the planet; by the twenty-first century, it had become a middle-income country, a member of the Organization of Economic Cooperation and Development (the club of advanced economies), and home to some of the world’s leading industrial corporations. And yet, many Koreans are less than satisfied with their country’s economic performance, given the continuing financial volatility and sluggish growth since the Korean economic crisis of 1997–1998.From Miracle to Maturity offers a comprehensive qualitative and quantitative analysis of the growth of the Korean economy, starting with the aggregate sources of growth (growth of the labor force, the stock of capital, and productivity) and then delving deeper into the roles played by structural change, exports, foreign investment, and financial development. The authors provide a detailed examination of the question of whether the Korean economy is now underperforming and ask, if so, what can be done to solve the problem."

From Miracle to Maturity

From Miracle to Maturity

Author: Barry J. Eichengreen

Publisher: Harvard University Press

Published: 2012

Total Pages: 0

ISBN-13: 9780674066755

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South Korea was one of the poorest economies on the planet after the Korean War; by the twenty-first century, it had become a middle-income country, home to some of the world's leading industrial corporations. From Miracle to Maturity offers an analysis of Korea's remarkable economic growth and considers whether its economy is now underperforming.


Book Synopsis From Miracle to Maturity by : Barry J. Eichengreen

Download or read book From Miracle to Maturity written by Barry J. Eichengreen and published by Harvard University Press. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Korea was one of the poorest economies on the planet after the Korean War; by the twenty-first century, it had become a middle-income country, home to some of the world's leading industrial corporations. From Miracle to Maturity offers an analysis of Korea's remarkable economic growth and considers whether its economy is now underperforming.

The Korean Economy

The Korean Economy

Author: Barry Eichengreen

Publisher: BRILL

Published: 2020-05-11

Total Pages: 390

ISBN-13: 168417550X

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"South Korea has been held out as an economic miracle—as a country that successfully completed the transition from underdeveloped to developed country status—and as an example of how a middle-income country can continue to move up the technology ladder into the production and export of more sophisticated goods and services. But with these successes have come challenges, among them poverty, inequality, long work hours, financial instability, and complaints about the economic and political power of the country’s large corporate conglomerates, or chaebol.The Korean Economy provides an overview of Korean economic experience since the 1950s, with a focus on the period since democratization in 1987. Successive chapters analyze the Korean experience from the perspectives of political economy, the growth record, industrial organization and corporate governance, financial development and instability, labor and employment, inequality and social policy, and Korea’s place in the world economy. A concluding chapter describes the country’s economic challenges going forward and how they can best be met.The volume also serves to summarize the findings of companion volumes in the Harvard–Korean Development Institute series on the Korean economy, also published by the Harvard University Asia Center."


Book Synopsis The Korean Economy by : Barry Eichengreen

Download or read book The Korean Economy written by Barry Eichengreen and published by BRILL. This book was released on 2020-05-11 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: "South Korea has been held out as an economic miracle—as a country that successfully completed the transition from underdeveloped to developed country status—and as an example of how a middle-income country can continue to move up the technology ladder into the production and export of more sophisticated goods and services. But with these successes have come challenges, among them poverty, inequality, long work hours, financial instability, and complaints about the economic and political power of the country’s large corporate conglomerates, or chaebol.The Korean Economy provides an overview of Korean economic experience since the 1950s, with a focus on the period since democratization in 1987. Successive chapters analyze the Korean experience from the perspectives of political economy, the growth record, industrial organization and corporate governance, financial development and instability, labor and employment, inequality and social policy, and Korea’s place in the world economy. A concluding chapter describes the country’s economic challenges going forward and how they can best be met.The volume also serves to summarize the findings of companion volumes in the Harvard–Korean Development Institute series on the Korean economy, also published by the Harvard University Asia Center."

The Korean Economy

The Korean Economy

Author: You-il Lee

Publisher: Routledge

Published: 2019-05-01

Total Pages: 120

ISBN-13: 135134823X

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The Korean Economy: From Growth to Maturity takes an in-depth, amalgamated look at the evolution of Korea’s globalization drive from the early 2000s (Kim Dae-jung regime, 1998–2003) to the present period (Park Geun-hye, 2013–2017). The book discusses the role of foreign companies on the sustainability of Korea’s economic growth, the relationship between the chaebol and the MNCs, the evolution of Korea's nation brand, and the role of the state in Korea’s new economic trajectory (globalization) since the 2000s. With data collected from fieldwork, the book provides both empirical and qualitative insights (economic, socio-cultural and political economic analysis) into the Korean political economy and would be a very useful reference to other emerging economies experiencing similar globalization paths.


Book Synopsis The Korean Economy by : You-il Lee

Download or read book The Korean Economy written by You-il Lee and published by Routledge. This book was released on 2019-05-01 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Korean Economy: From Growth to Maturity takes an in-depth, amalgamated look at the evolution of Korea’s globalization drive from the early 2000s (Kim Dae-jung regime, 1998–2003) to the present period (Park Geun-hye, 2013–2017). The book discusses the role of foreign companies on the sustainability of Korea’s economic growth, the relationship between the chaebol and the MNCs, the evolution of Korea's nation brand, and the role of the state in Korea’s new economic trajectory (globalization) since the 2000s. With data collected from fieldwork, the book provides both empirical and qualitative insights (economic, socio-cultural and political economic analysis) into the Korean political economy and would be a very useful reference to other emerging economies experiencing similar globalization paths.

The Free-Market Innovation Machine

The Free-Market Innovation Machine

Author: William J. Baumol

Publisher: Princeton University Press

Published: 2004-04-11

Total Pages: 332

ISBN-13: 069111630X

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Why has capitalism produced economic growth that so vastly dwarfs the growth record of other economic systems, past and present? Why have living standards in countries from America to Germany to Japan risen exponentially over the past century? William Baumol rejects the conventional view that capitalism benefits society through price competition--that is, products and services become less costly as firms vie for consumers. Where most others have seen this as the driving force behind growth, he sees something different--a compound of systematic innovation activity within the firm, an arms race in which no firm in an innovating industry dares to fall behind the others in new products and processes, and inter-firm collaboration in the creation and use of innovations. While giving price competition due credit, Baumol stresses that large firms use innovation as a prime competitive weapon. However, as he explains it, firms do not wish to risk too much innovation, because it is costly, and can be made obsolete by rival innovation. So firms have split the difference through the sale of technology licenses and participation in technology-sharing compacts that pay huge dividends to the economy as a whole--and thereby made innovation a routine feature of economic life. This process, in Baumol's view, accounts for the unparalleled growth of modern capitalist economies. Drawing on extensive research and years of consulting work for many large global firms, Baumol shows in this original work that the capitalist growth process, at least in societies where the rule of law prevails, comes far closer to the requirements of economic efficiency than is typically understood. Resounding with rare intellectual force, this book marks a milestone in the comprehension of the accomplishments of our free-market economic system--a new understanding that, suggests the author, promises to benefit many countries that lack the advantages of this immense innovation machine.


Book Synopsis The Free-Market Innovation Machine by : William J. Baumol

Download or read book The Free-Market Innovation Machine written by William J. Baumol and published by Princeton University Press. This book was released on 2004-04-11 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why has capitalism produced economic growth that so vastly dwarfs the growth record of other economic systems, past and present? Why have living standards in countries from America to Germany to Japan risen exponentially over the past century? William Baumol rejects the conventional view that capitalism benefits society through price competition--that is, products and services become less costly as firms vie for consumers. Where most others have seen this as the driving force behind growth, he sees something different--a compound of systematic innovation activity within the firm, an arms race in which no firm in an innovating industry dares to fall behind the others in new products and processes, and inter-firm collaboration in the creation and use of innovations. While giving price competition due credit, Baumol stresses that large firms use innovation as a prime competitive weapon. However, as he explains it, firms do not wish to risk too much innovation, because it is costly, and can be made obsolete by rival innovation. So firms have split the difference through the sale of technology licenses and participation in technology-sharing compacts that pay huge dividends to the economy as a whole--and thereby made innovation a routine feature of economic life. This process, in Baumol's view, accounts for the unparalleled growth of modern capitalist economies. Drawing on extensive research and years of consulting work for many large global firms, Baumol shows in this original work that the capitalist growth process, at least in societies where the rule of law prevails, comes far closer to the requirements of economic efficiency than is typically understood. Resounding with rare intellectual force, this book marks a milestone in the comprehension of the accomplishments of our free-market economic system--a new understanding that, suggests the author, promises to benefit many countries that lack the advantages of this immense innovation machine.

Economic Growth, second edition

Economic Growth, second edition

Author: Robert J. Barro

Publisher: MIT Press

Published: 2003-10-10

Total Pages: 676

ISBN-13: 9780262025539

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The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.


Book Synopsis Economic Growth, second edition by : Robert J. Barro

Download or read book Economic Growth, second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.

East Asian Development

East Asian Development

Author: Dwight H. Perkins

Publisher: Harvard University Press

Published: 2013-10-21

Total Pages: 222

ISBN-13: 0674726138

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In the early 1960s fewer than five percent of Japanese owned automobiles, China's per capita income was among the lowest in Asia, and living standards in rural South Korea put it among the world's poorest countries. Today, these are three of the most powerful economies on earth. Dwight Perkins draws on extensive experience in the region to explain how Asia sustained such rapid economic growth in the second half of the twentieth century. East Asian Development covers Japan, South Korea, Hong Kong, Singapore, and Taiwan, as well as Indonesia, Vietnam, Thailand, Malaysia, and China--a behemoth larger than the other economies combined. While the overall picture of Asian growth is positive, no single economic policy has been effective regionwide. Perkins uncovers why some initially egalitarian societies have ended up in very different places, with Japan, for example, maintaining a modest gap between rich and poor while China has become one of Asia's most unequal economies. With Korean and Japanese growth sluggish and China losing steam, Perkins asks whether this is a regional phenomenon or typical of all economies at this stage of development. His inquiry reminds us that the uncharted waters of China's vast economy make predictions speculative at best.


Book Synopsis East Asian Development by : Dwight H. Perkins

Download or read book East Asian Development written by Dwight H. Perkins and published by Harvard University Press. This book was released on 2013-10-21 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1960s fewer than five percent of Japanese owned automobiles, China's per capita income was among the lowest in Asia, and living standards in rural South Korea put it among the world's poorest countries. Today, these are three of the most powerful economies on earth. Dwight Perkins draws on extensive experience in the region to explain how Asia sustained such rapid economic growth in the second half of the twentieth century. East Asian Development covers Japan, South Korea, Hong Kong, Singapore, and Taiwan, as well as Indonesia, Vietnam, Thailand, Malaysia, and China--a behemoth larger than the other economies combined. While the overall picture of Asian growth is positive, no single economic policy has been effective regionwide. Perkins uncovers why some initially egalitarian societies have ended up in very different places, with Japan, for example, maintaining a modest gap between rich and poor while China has become one of Asia's most unequal economies. With Korean and Japanese growth sluggish and China losing steam, Perkins asks whether this is a regional phenomenon or typical of all economies at this stage of development. His inquiry reminds us that the uncharted waters of China's vast economy make predictions speculative at best.

Japan, the System That Soured

Japan, the System That Soured

Author: Richard Katz

Publisher: Routledge

Published: 2015-03-04

Total Pages: 481

ISBN-13: 1317467183

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After seven long years of economic malaise, it is clear that something has gone awry in Japan. Unless Japan undertakes sweeping reform, official forecasts now warn, growth will steadily dwindle. How could the world's most acclaimed economic miracle have stumbled so badly? As this important book explains, the root of the problem is that Japan is still mired in the structures, policies, and mental habits of the 1950s-1960s. Four decades ago while in the "catch-up" phase of its economic evolution, policies that gave rise to "Japan, Inc". made a lot of sense. By the 1970s and 1980s, when Japan had become a more mature economy, "catch-up economics" had become passe, even counterproductive. Even worse, in response to the oil shocks, Japan increasingly used its industrial policy tools. not to promote "winners", but to shield "losers" from competition at home and abroad. Japan's well-known aversion to imports is part and parcel of this politically understandable, but economically self-defeating, pattern. The end result is a deformed "dual economy" unique in the industrial world. Now this "dualism" is sapping the strength of the entire economy. The protection of the weak is driving Japan's most inefficient companies to invest offshore instead of at home. Without sweeping reform, real recovery will prove elusive. The challenging thesis articulated in this book is receiving widespread media attention in the United States and Japan and is sure to provoke continuing debate and controversy.


Book Synopsis Japan, the System That Soured by : Richard Katz

Download or read book Japan, the System That Soured written by Richard Katz and published by Routledge. This book was released on 2015-03-04 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: After seven long years of economic malaise, it is clear that something has gone awry in Japan. Unless Japan undertakes sweeping reform, official forecasts now warn, growth will steadily dwindle. How could the world's most acclaimed economic miracle have stumbled so badly? As this important book explains, the root of the problem is that Japan is still mired in the structures, policies, and mental habits of the 1950s-1960s. Four decades ago while in the "catch-up" phase of its economic evolution, policies that gave rise to "Japan, Inc". made a lot of sense. By the 1970s and 1980s, when Japan had become a more mature economy, "catch-up economics" had become passe, even counterproductive. Even worse, in response to the oil shocks, Japan increasingly used its industrial policy tools. not to promote "winners", but to shield "losers" from competition at home and abroad. Japan's well-known aversion to imports is part and parcel of this politically understandable, but economically self-defeating, pattern. The end result is a deformed "dual economy" unique in the industrial world. Now this "dualism" is sapping the strength of the entire economy. The protection of the weak is driving Japan's most inefficient companies to invest offshore instead of at home. Without sweeping reform, real recovery will prove elusive. The challenging thesis articulated in this book is receiving widespread media attention in the United States and Japan and is sure to provoke continuing debate and controversy.

The Unwinding of the Miracle

The Unwinding of the Miracle

Author: Julie Yip-Williams

Publisher:

Published: 2019

Total Pages: 337

ISBN-13: 0525511350

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Born blind in Vietnam, Julie Yip-Williams narrowly escaped euthanasia by her grandmother, and then fled the political upheaval of the late 1970s with her family. She made it to Hong Kong and, ultimately, America, where a surgeon at UCLA gave her partial sight. Against all odds, she became a Harvard-educated lawyer with a husband and two children. At age thirty-seven, Julie was diagnosed with terminal metastatic colon cancer. This book grew out of a blog Julie kept through the past four years of her life.


Book Synopsis The Unwinding of the Miracle by : Julie Yip-Williams

Download or read book The Unwinding of the Miracle written by Julie Yip-Williams and published by . This book was released on 2019 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Born blind in Vietnam, Julie Yip-Williams narrowly escaped euthanasia by her grandmother, and then fled the political upheaval of the late 1970s with her family. She made it to Hong Kong and, ultimately, America, where a surgeon at UCLA gave her partial sight. Against all odds, she became a Harvard-educated lawyer with a husband and two children. At age thirty-seven, Julie was diagnosed with terminal metastatic colon cancer. This book grew out of a blog Julie kept through the past four years of her life.

The Age of Miracles

The Age of Miracles

Author: Karen Thompson Walker

Publisher: Random House

Published: 2012-06-26

Total Pages: 282

ISBN-13: 0679644385

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NAMED ONE OF THE BEST BOOKS OF THE YEAR BY People ∙ O: The Oprah Magazine ∙ Financial Times ∙ Kansas City Star ∙ BookPage ∙ Kirkus Reviews ∙ Publishers Weekly ∙ Booklist NEW YORK TIMES BESTSELLER “A stunner.”—Justin Cronin “It’s never the disasters you see coming that finally come to pass—it’s the ones you don’t expect at all,” says Julia, in this spellbinding novel of catastrophe and survival by a superb new writer. Luminous, suspenseful, unforgettable, The Age of Miracles tells the haunting and beautiful story of Julia and her family as they struggle to live in a time of extraordinary change. On an ordinary Saturday in a California suburb, Julia awakes to discover that something has happened to the rotation of the earth. The days and nights are growing longer and longer; gravity is affected; the birds, the tides, human behavior, and cosmic rhythms are thrown into disarray. In a world that seems filled with danger and loss, Julia also must face surprising developments in herself, and in her personal world—divisions widening between her parents, strange behavior by her friends, the pain and vulnerability of first love, a growing sense of isolation, and a surprising, rebellious new strength. With crystalline prose and the indelible magic of a born storyteller, Karen Thompson Walker gives us a breathtaking portrait of people finding ways to go on in an ever-evolving world. “Gripping drama . . . flawlessly written; it could be the most assured debut by an American writer since Jennifer Egan’s Emerald City.”—The Denver Post “Pure magnificence.”—Nathan Englander “Provides solace with its wisdom, compassion, and elegance.”—Curtis Sittenfeld “Riveting, heartbreaking, profoundly moving.”—Kirkus Reviews (starred review) Look for special features inside. Join the Circle for author chats and more.


Book Synopsis The Age of Miracles by : Karen Thompson Walker

Download or read book The Age of Miracles written by Karen Thompson Walker and published by Random House. This book was released on 2012-06-26 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: NAMED ONE OF THE BEST BOOKS OF THE YEAR BY People ∙ O: The Oprah Magazine ∙ Financial Times ∙ Kansas City Star ∙ BookPage ∙ Kirkus Reviews ∙ Publishers Weekly ∙ Booklist NEW YORK TIMES BESTSELLER “A stunner.”—Justin Cronin “It’s never the disasters you see coming that finally come to pass—it’s the ones you don’t expect at all,” says Julia, in this spellbinding novel of catastrophe and survival by a superb new writer. Luminous, suspenseful, unforgettable, The Age of Miracles tells the haunting and beautiful story of Julia and her family as they struggle to live in a time of extraordinary change. On an ordinary Saturday in a California suburb, Julia awakes to discover that something has happened to the rotation of the earth. The days and nights are growing longer and longer; gravity is affected; the birds, the tides, human behavior, and cosmic rhythms are thrown into disarray. In a world that seems filled with danger and loss, Julia also must face surprising developments in herself, and in her personal world—divisions widening between her parents, strange behavior by her friends, the pain and vulnerability of first love, a growing sense of isolation, and a surprising, rebellious new strength. With crystalline prose and the indelible magic of a born storyteller, Karen Thompson Walker gives us a breathtaking portrait of people finding ways to go on in an ever-evolving world. “Gripping drama . . . flawlessly written; it could be the most assured debut by an American writer since Jennifer Egan’s Emerald City.”—The Denver Post “Pure magnificence.”—Nathan Englander “Provides solace with its wisdom, compassion, and elegance.”—Curtis Sittenfeld “Riveting, heartbreaking, profoundly moving.”—Kirkus Reviews (starred review) Look for special features inside. Join the Circle for author chats and more.