Abstract
An honest answer has to be in the affirmative. Korea’s development experience was based on singularly Korean factors and the parameters of the international economy of that period. The Korean model — or for that matter the ANIE model — is a specific model not a general development model. It concerns a specific kind of economic growth that takes place at a particular stage in the economic development of a country. The Korean model was born in response to the domestic and external factors of that period. The former included economic, historic, cultural and geopolitical factors, while the latter inter alia included the massive external assistance that Korea received as grants-in-aid in the 1950s, large export markets supported by rapid world economic growth in the 1960s, the liquidity creation by international banks in the 1970s and the surge in US imports in the first half of the 1980s.
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© 1992 Dilip K. Das
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Das, D.K. (1992). A Paradigm for the Developing Economies. In: Korean Economic Dynamism. Palgrave Macmillan, London. https://doi.org/10.1057/9780230373853_7
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DOI: https://doi.org/10.1057/9780230373853_7
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