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Ethnic Nationalism in Korea: Genealogy, Politics, and Legacy (review)

Ethnic Nationalism in Korea: Genealogy, Politics, and Legacy (review) book reviews allocated to the HCI sectors, relative to the non-HCI sectors, showed a significant increase. But more critical is whether this allocation pattern reduced Korea's competitive advantage in some sectors at the expense of shifting resources to the HCI sectors. Even if over time many of those investments became profitable (at least financially), this does not address the question of whether Korea's development effort was an efficient strategy or whether the same outcome might have been reached at a lower cost, albeit at a slower pace. Indeed Kim notes that the compressed development effort in Korea left the economy with a weak and underdeveloped financial system and a failure to develop a strong technological foundation. The author points out that these structural weaknesses played a large role in the financial crisis that swept over Korea in the late 1990s. Kim concludes by enumerating the policy lessons and failures gleaned from Korea's industrialization policies, listing both the strengths and weaknesses of Korea's effort to rapidly scale the industrial ladder, a process that despite its high costs succeeded. But while this study is interesting, in the end it fails to deliver on the promise contained in the book's subtitle http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Korean Studies University of Hawai'I Press

Ethnic Nationalism in Korea: Genealogy, Politics, and Legacy (review)

Korean Studies , Volume 31 (1) – Mar 20, 2008

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Publisher
University of Hawai'I Press
Copyright
Copyright © 2007 University of Hawai'i Press. All rights reserved.
ISSN
1529-1529
Publisher site
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Abstract

book reviews allocated to the HCI sectors, relative to the non-HCI sectors, showed a significant increase. But more critical is whether this allocation pattern reduced Korea's competitive advantage in some sectors at the expense of shifting resources to the HCI sectors. Even if over time many of those investments became profitable (at least financially), this does not address the question of whether Korea's development effort was an efficient strategy or whether the same outcome might have been reached at a lower cost, albeit at a slower pace. Indeed Kim notes that the compressed development effort in Korea left the economy with a weak and underdeveloped financial system and a failure to develop a strong technological foundation. The author points out that these structural weaknesses played a large role in the financial crisis that swept over Korea in the late 1990s. Kim concludes by enumerating the policy lessons and failures gleaned from Korea's industrialization policies, listing both the strengths and weaknesses of Korea's effort to rapidly scale the industrial ladder, a process that despite its high costs succeeded. But while this study is interesting, in the end it fails to deliver on the promise contained in the book's subtitle

Journal

Korean StudiesUniversity of Hawai'I Press

Published: Mar 20, 2008

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