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Lecture

poli 243 11 march.rtf

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School
McGill University
Department
Political Science
Course
POLI 243
Professor
Mark Brawley
Semester
Winter

Description
Lecture 11 March South Korea chooses Export. oriented Industrialization (trade and eco. development) trade and eco. development : tariff policies, monetary policies, trying to generate industrialization in developing countries this contrast sharp in third-world countries : all looked similar economically but despite starting similarly in 1945, several countries have attained different results east asian countries quite successful; Latin American countries had struggled : end of 1980s, east asian countries graduated (moved in tech. categories of a developing country to developed) e.g. S.Korea joining OECD differences exposed in 1980s debt crisis : in 70s, due to inflation in US, it was easy to get loans, developing countries chose to get loans, had to repay debts later and had trouble doing so due to the changing eco. situation. trade policy played an imp. role popular trade strategy all developing countries tried off the same things initially ISI (import-substition industrialization) : stop imports, put tariffs to slow down their volume, would allow local producers to survive better and supply their products. based on historical experience (during world wars) : Brazil, Argentina (traditional trade relationships couldn't go on due to the world wars). They start producing for themselves due to this. Implementation of policies with tariffs, domestic policies so that they don't rely on developed countries. ISI widely adopted after WW 2 Linked to nationalism (India, S.Korea) , security concerns (prominent in Asia, to be major power you need to have your own weapons) Problems
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