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Asia's Next Giant: South Korea and Late Industrialization

Alice H. Amsden

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.001.0001
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

South Korea has been quietly growing into a major economic force that is even challenging some Japanese industries. This book examines South Korean economic growth as an example of “late ... More


Industrializing through Learning

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0001
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

This is a book not only about South Korea and how it came to be a major factor in the world economy, but also about the industrialization process that South Korea followed. This process, which will ... More


Getting Relative Prices “Wrong”: A Summary

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0006
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

According to accepted economic theory, industrial expansion can be explained by one of two grand approaches, market oriented or institutional, and success is usually interpreted as a validation of ... More


The Dynamics of Growth

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

Late industrialization is characterized by three facets of growth, as South Korea exemplifies. The first relates to diversification, or entrepreneurial decisions concerning penetration of new ... More


The Paradox of “Unlimited” Labor and Rising Wages

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

The forces behind the operation of the labor market and real wage increases in South Korea are examined. It is argued that in industries in which the technology transfer problem was fairly ... More


The Boom in Education

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

One reason why Japan, Taiwan, and South Korea appear to have industrialized rapidly is that they have invested relatively heavily in education. A well‐educated work force, both white‐ and ... More


From Learner to Teacher

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0013
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

Late‐industrializing countries such as Japan and South Korea appear to challenge existing economic powers such as the U.S.A. precisely in those areas in which the challengers excel by virtue of their ... More


Industrializing Late

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0001
Subject:
Economics and Finance, Economic History, International

This chapter introduces the phenomenon of the rise of a handful of countries outside the North Atlantic —the rest—to the ranks of world‐class competitors in a wide range of mid‐technology industries, ... More


A History of Backwardness

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0002
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

This chapter examines how late industrialization in South Korea was at first retarded by a state too weak to intervene and stimulate capital expenditures. It also takes the position that when ... More


The Switch in Industrial Leadership

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

Korea has diversified from less to more complex diversified industries in a nonlinear fashion. This chapter suggests that cotton spinning and weaving, South Korea's leading sector in terms of ... More


“The Rest” Will Rise Again

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0010
Subject:
Economics and Finance, Economic History, International

One of the most controversial aspects of the rise of the successful late industrializing countries (the rest) was the role played by the government. As seen in this book, governments in the rest all ... More


National Firm Leaders

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0008
Subject:
Economics and Finance, Economic History, International

After floundering for a century, the successful late industrializing countries (the rest) succeeded in creating professionally managed, large‐scale, national firms, although their importance varied ... More


The Rise of Salaried Engineers: Automobile Manufacturing

Alice H. Amsden

in Asia's Next Giant: South Korea and Late Industrialization

Published in print:
1992
Published Online:
November 2003
ISBN:
9780195076035
eISBN:
9780199870691
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195076036.003.0007
Subject:
Economics and Finance, Development, Growth, and Environmental, South and East Asia

This chapter looks at the salaried automobile engineer in South Korea's late industrialization with respect to two extreme typologies – the small‐ and medium‐sized firm, and the huge diversified ... More


Manufacturing Experience Matters

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0005
Subject:
Economics and Finance, Economic History, International

Countries in the successful late industrializing countries (the rest) that industrialized rapidly after the Second World War had accumulated manufacturing experience in the pre‐war period, and this ... More


Speeding Up

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0006
Subject:
Economics and Finance, Economic History, International

The developmental state of successful late industrializing countries (the rest) was predicated on performing four functions: development banking; local‐content management (control of performance ... More


The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Alice Amsden

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.001.0001
Subject:
Economics and Finance, Economic History, International

After a century of struggle, a dozen non‐Western countries with pre‐Second World War manufacturing experience succeeded in entering the orbit of modem industry. The rise of ‘the rest’ was ... More


Tribulations of Technology Transfer

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0003
Subject:
Economics and Finance, Economic History, International

In theory, technology transfer should enable a backward country to achieve world productivity norms, but in practice, because technology is ‘tacit’, and never completely codifiable, the best ... More


From Mechanisms of Control to Mechanisms of Resistance

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0009
Subject:
Economics and Finance, Economic History, International

The expansionist tendencies inherent in industrial developmental policies became overexpansionist when, by virtue of success itself, access to foreign capital eased. Two foreign debt crises ensued, ... More


Three‐Pronged Investment

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0004
Subject:
Economics and Finance, Economic History, International

The successful late industrializing countries (the rest) followed a ‘low road’ to industrial development between 1850 and 1950 for lack of proprietary technology and related know‐how and skills. ... More


Selective Seclusion

Alice H. Amsden

in The Rise of “The Rest”: Challenges to the West From Late-Industrializing Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780195139693
eISBN:
9780199832897
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195139690.003.0007
Subject:
Economics and Finance, Economic History, International

Successful late industrializing countries (the rest) all allocated intermediate assets to the same set of mid‐technology industries, and in almost all cases, these industries started as import ... More


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