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Asia's Next Giant: South Korea and Late Industrialization
South Korea has been quietly growing into a major economic force that is even challenging some Japanese industries. This timely book examines South Korean growth as an example of "late industrialization, " a process in which a nation's industries learn from earlier innovator nations, rather than innovate themselves.
Paperback, 400 pages
Published January 1st 2006 by Oxford University Press, USA
(first published September 7th 1989)
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Sep 25, 2007 Adam Hersh rated it it was amazing
Recommends it for: Interested in international development policy/alternatives to Bretton Woods
Amsden's book is a remarkable achievement of scholarship--incredibly detailed research that few take the time to really do anymore. The story is of South Korea's miraculous post-war ("late") economic development, a feat so few other countries have been able to attain. The story of Korea is not as interesting to me, as the bigger story about how development worked in practice--particularly the central and indispensable role played by the state in spawning and guiding the development process.
Alice Amsden's Asia's Next Giant is a work of economic history on modern Korea. She argues that Korea's state-controlled economy has been an asset for the country's growth and that many of Korea's interventionist policies and price controls clearly show that the standard market paradigm and economic laws do not necessarily apply to really-existing economies, especially economies like Korea's, which industrialized late. Fascinating book and a valuable resource.