Kuznets focuses on the four key characteristics of South Korean economic development since the mid-1960s: relatively high investment rates, labor market competition, export orientation, and a strong, interventionist government. He uses an informal model to simplify the complex relations that underlie Korea's outstanding growth and also assesses the relevance of the model for other countries. The work is designed to be read by non-specialists, in that no prior knowledge of Korea has been assumed. The work concentrates on economic issues, and policy choices are of particular interest. References are made to English-language literature on economic development in general and on Korean development in particular.
About the Author:
PAUL W. KUZNETS is a Professor in the Economics Department at Indiana University, where he has been on the faculty since 1964. Dr. Kuznets was a consultant with the Midwest Universities Consortium for International Activities in 1985 and 1986, a consultant for the Korean Development Institute in 1973, and an economist for the Research Division of the Federal Reserve Board for 6 years. Prof. Kuznets has served on editorial and advisory boards, and as a referee and reader. Since the mid-1960s, he has published journal articles and chapters in edited monographs on Korean economic development and on development in other East Asian countries, and has authored Economic Growth and Structure in the Republic of Korea. He has also served as an expert witness, on panels, and as an invited lecturer on the Korean economy.