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Economic Development and Poverty Reduction in Korea: Governing Multifunctional Institutions

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Book cover Developmental Pathways to Poverty Reduction

Part of the book series: Developmental Pathways to Poverty Reduction ((POD))

Abstract

To fight poverty, it is necessary for developing countries — where a majority of the poor live — to strive for economic development. What makes this task harder is that economic development does not necessarily reduce poverty or income inequality. The challenge here is to combine poverty reduction and economic growth. With this in mind, this chapter examines the Republic of Korea’s development strategy, which transformed one of Asia’s poorest nations in the 1950s into an industrialized country with low poverty rates and reserves of high human capital.

This chapter was published in Development and Change, 40(July), 769–92. It is based on the research commissioned by the UNRISD programme on Poverty Reduction and Policy Regimes. The authors would like to thank the anonymous referees for their comments. Thanks are also due to Yusuf Bangura for useful comments. Usual caveats are applied.

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Authors
  1. Huck-ju Kwon
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  2. Ilcheong Yi
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Editor information

Editors and Affiliations

  1. University of Sierra Leone, Sierra Leone

    Yusuf Bangura (Senior Research Associate) (Senior Research Associate)

  2. United Nations Research Institute for Social Development, Switzerland

    Yusuf Bangura (Senior Research Associate) (Senior Research Associate)

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© 2015 United Nations Research Institute for Social Development

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Kwon, Hj., Yi, I. (2015). Economic Development and Poverty Reduction in Korea: Governing Multifunctional Institutions. In: Bangura, Y. (eds) Developmental Pathways to Poverty Reduction. Developmental Pathways to Poverty Reduction. Palgrave Macmillan, London. https://doi.org/10.1057/9781137482549_8

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