INTL DV 110 Lecture Notes - Lecture 5: Four Asian Tigers, South Korea, Multinational Corporation
30 Mar 2021
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Document Summary
South korea: 20th century"s most remarkable success story. 1960: gdp per capita less than . And now to one of world"s leading development experts . Linked to keynesian ideas about macroeconomics and idea that a bounded national economy exists and can be measured through gdp/gnp. Asian tigers : high annual growth rates (gdp), 1950, 1982. 4 tigers: taiwan, hong kong, south korea, singapore. People want to know what is key to their great economic success. Egypt"s growth rate is also 8-10% in 1970-79. Isn"t included in asian tigers even though it"s growth is bigger than korea"s. High levels of inequality (rural to urban, classes) In contrast to predatory states (channel resources to political allies instead of towards productive capital investment) South korean state didn"t pocket development aid. Mobilized money and people towards national growth. Shad enough autonomy to discipline national capitalists. Growth first economy that eliminated corruption and inequality and emphasized self sufficiency.
