POLSCI 140 Lecture 16: Study Notes at UMich
Document Summary
Summary: geography, legacies, and institutional correlates of wealth and poverty. How to become rich: a menu; not a blueprint. China and mexico: facing the middle-income trap. A return to basics: disease, disorder and decline. First-order institutions are important, but they can be substituted at least temporarily. Igniting growth is not the same as sustaining growth. (ang reading) Just because rich democracies have certain institutions, it"s not necessarily the case that those institutions are prerequisites of growth. As part of the east asia miracle, south korea grew at about 7% for over 30 years, In 1960, its gdp per capita was about 11% of the us gdp. South korea"s income inequality also remained relatively low during its period of most rapid growth. Its rapid growth era coincided with an authoritarian regime and a gradual, but not non- violent, transition to democracy. 1948: south korea partitioned from north korea, with rok under us administration and the dprk under soviet administration.
