Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

The Post-Crisis Development of Foreign Direct Investment Policies of Korea

The Post-Crisis Development of Foreign Direct Investment Policies of Korea and I. INTRODUCTION During the process of rapid economic growth since the early 1960s, the Korean economy is known to have pursued the outward oriented economic development strategy. In the meantime, although its trade dependency ratio has increased significantly from 40 percent in 1970 to 89 percent in 2006, it did not rely heavily on foreign direct investment (FDI) inflows. In this sense, the Korean economic development pattern was apparently different from that of other best performers in the world economy, such as Hong Kong and Singapore. Facing the occurrence of the economic crisis in Korea in 1997-1998, social scientists began to reconsider the structural characteristics of the Korean economic development model. There have been competing views on the causes of the economic crisis in Korea. One group, along with Chang, Park and Yoo (1998) and Zalewski (1999), has argued that there was no serious structural problem in the Korean economic development model, but the occurrence of the crisis in the late 1990s was due to the careless liberalization of short-term international capital movement and the increased share of short-term external debt. The other group, Mah (2002), for instance, has emphasized the long-lasted structural problems of the Korean http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

The Post-Crisis Development of Foreign Direct Investment Policies of Korea

Journal of World Investment and Trade , Volume 9 (6): 18 – Jan 1, 2008

Loading next page...
 
/lp/brill/the-post-crisis-development-of-foreign-direct-investment-policies-of-YRdVHeYO8T

References (8)

Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190008X00287
Publisher site
See Article on Publisher Site

Abstract

and I. INTRODUCTION During the process of rapid economic growth since the early 1960s, the Korean economy is known to have pursued the outward oriented economic development strategy. In the meantime, although its trade dependency ratio has increased significantly from 40 percent in 1970 to 89 percent in 2006, it did not rely heavily on foreign direct investment (FDI) inflows. In this sense, the Korean economic development pattern was apparently different from that of other best performers in the world economy, such as Hong Kong and Singapore. Facing the occurrence of the economic crisis in Korea in 1997-1998, social scientists began to reconsider the structural characteristics of the Korean economic development model. There have been competing views on the causes of the economic crisis in Korea. One group, along with Chang, Park and Yoo (1998) and Zalewski (1999), has argued that there was no serious structural problem in the Korean economic development model, but the occurrence of the crisis in the late 1990s was due to the careless liberalization of short-term international capital movement and the increased share of short-term external debt. The other group, Mah (2002), for instance, has emphasized the long-lasted structural problems of the Korean

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2008

There are no references for this article.