State Intervention and Export-oriented Development in South Korea

Abstract

The aim of this chapter is to contribute to the debate about the role of the state in industrial development through an examination of South Korea, which has been widely heralded as a case supporting the opponents of state intervention. Our research suggests, however, that the South Korean experience has been seriously misrepresented. Contrary to earlier contentions, Korea has in fact resorted extensively to ‘directive’ forms of state intervention over the last two decades. 1 The view taken is that the Korean experience supports the advocates of directive state intervention in market economics. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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