Asia's Next Giant : South Korea and Late Industrialization.
- 1st ed.
- 1 online resource (396 pages)
Intro -- Preface -- Contents -- Tables and Figures -- 1. Industrializing through Learning -- The Case of Korea -- Learning: A New Mode of Industrialization -- The Relative Speeds of Industrializations -- Korea as a Special Case of Late Industrialization -- The State -- The Process of Catching Up -- Overcoming Technological Ignorance: From Rent-Seeking to Investing -- Plan of the Book -- PART I: The State and Business: History and Policies -- 2. A History of Backwardness -- The Retarding Effects of a Weak State -- The Yi Dynasty -- The Contradictions of Modernization -- The Cold War -- Aid and the Origins of the Diversified Business Group -- Three Contending Views -- Conclusion -- Appendix 2-1 -- 3. The ABCs of Japanese and Korean Accumulation -- Competitive Advantage in Korea versus in Japan -- The Emergence of an International Division of Labor -- The Model of Accumulation -- Trade Policies -- Investment Policy -- Conclusion -- Appendix 3-1 -- 4. The Dynamics of Growth -- The Three Facets of Growth -- The Government as Entrepreneur -- Government Short-Run Economic Policies -- The Key to Recovery: High Productivity -- The Growth-Productivity Dynamic of Late Industrialization -- Conclusion -- 5. The Spiraling of Market Power -- Monopoly, Competition, and Liberalization: An Overview -- Market Concentration -- Corporate Strategy Toward Diversification -- Discipline of Monopoly Power -- Conclusion -- 6. Getting Relative Prices "Wrong": A Summary -- Failure of the Market Paradigm -- The Insufficiency of the Schumpeterian Alternative -- The Historical Record: Deliberately Getting Relative Prices "Wrong" -- When "Wrong" Is Right -- The Disciplinary Mechanism -- Developmentalism: A Research Agenda -- Competition in Late Industrialization and the Growth Dynamic -- The Diversified Business Group -- The Growth-Productivity Dynamic in Late Industrialization. "Wrong" Prices, Right Direction? -- Conclusion -- PART II: Professional Management and Human Resources -- 7. The Rise of Salaried Engineers: Automobile Manufacturing -- The Salaried Engineer and Firm Differentiation -- The Small- and Medium-Size Firm -- The Modern Industrial Enterprise -- Learning at the Hyundai Motor Company (HMC) -- Japan's Influence on Korea's Small- and Medium-Size Firm -- The Subcontracting Network of the Hyundai Motor Company (HMC) -- Subcontracting: A Summary -- 8. The Paradox of "Unlimited" Labor and Rising Wages -- Labor in Late Industrialization -- Labor Supply -- The Rate of Pay -- The Reasons Behind Rising Real Wages -- The Skills of the New Labor Aristocracy of Late Industrialization -- Conclusion -- 9. The Boom in Education -- Late Industrialization and the Level of Education -- The Ambiguities of Korea's Outstanding Investments in Education -- The Educational Level of Production Workers -- The Educational Level of Managers and Engineers -- Inexperience -- Rewards for the Elite -- Foreign Technical Assistance -- The Chaebol as Young Manufacturers -- Conclusion -- PART III: The Dynamics of Dynamic Comparative Advantage -- 10. The Switch in Industrial Leadership -- Nonlinear Diversification -- The Textiles Industry -- Textiles Manufacture Versus Cement-Making -- The Hyundai Cement Company -- Conclusion -- 11. The World's Largest Shipbuilder -- The Competitive Challenge -- Government Assistance to Shipbuilding -- Foreign Technical Assistance -- The Acquisition of Design Capability -- Hyundai Engine and Heavy Machinery Manufacturing Company, Ltd. -- Intermarginal Changes -- Organization -- Summary: Survival of the Fittest -- 12. The Triumph of Steel -- An Unpropitious Start -- POSCO's Founding -- Profitability and Subsidization -- The Competition -- Foreign Technical Assistance and the Nature of Steel-Making Technology. Prioritization -- Summary: The Shopfloor Focus -- Cross-Subsidization -- 13. From Learner to Teacher -- Back-Door Competition -- From Learner to Teacher -- Labor Relations -- Epilogue -- Bibliography -- Name Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- U -- V -- W -- Y -- Z -- Subject Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- U -- V -- W -- Y -- Z.
The important book contends that South Korea's phenomenal economic growth is attributable to "late industrialization," the process in which a nation's industries learn or borrow from other innovator nations, rather than innovate themselves. Amsden focuses on the principle of reciprocity and compares South Korea's experience to that of Japan and other late industrializing nations.
9780198022473
Industrial policy -- Korea (South). Industries -- Korea (South). Korea (South) -- Economic conditions -- 1960-1988. Korea (South) -- Economic policy -- 1960-1988.