Public Finances during the Korean Modernization Process : Studies of the Modernization of the Republic of Korea : 1945-1975 - KDI 한국개발연구원 - 연구 - 보고서
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단행본 Public Finances during the Korean Modernization Process : Studies of the Modernization of the Republic of Korea : 1945-1975 1986.01.01


Series No. 107

단행본 Public Finances during the Korean Modernization Process : Studies of the Modernization of the Republic of Korea : 1945-1975 #정부예산


  • KDI
    Roy Bahl
  • KDI
  • KDI
This is one of the studies on the economic and social
modernization of Korea undertaken jointly by the Harvard
Institute for International Development and the Korea
Development Institute. The undertaking has twin objectives; to
examine the elements underlying the remarkable growth of the
Korean economy and the distribution of the fruits of that
growth, together with the associated changes in society and
government; and to evaluate the importance of foreign economic
assistance, particularly American assistance, in promoting these

The rapid rate of growth of the Korean economy, matched
in the less developed world only by similar rates of growth in
the neighboring East Asian economies of Taiwan, Hong Kong,
and Singapore, has not escaped the notice of economists and
other observers. Indeed there has been fairly extensive analysis
of the Korean case. This analysis, has been mainly limited to
macroeconomic phenomena; to the behavior of monetary, fiscal,
and foreign-exchange magnitudes and to the underlying policies
affecting these magnitudes.

But there are elements other than these that need to be
taken into account to explain what has happened. The
development of Korean entrepreneurship has been remarkable;
Korea has an industrious and disciplined labor force; the
contribution of agricultural development both to overall growth
and to the distribution of income requires assessment; the level
of literacy and the expansion of secondary and higher education
have made their mark; and the combination and interdependence
of government and private initiative and administration have
been remarkably productive. These aspects together with the
growth of urban areas, changes in the mortality and fertility of
the population and in public health, are the primary objects of
study. It is hoped that they will provide the building blocks from
which an overall assessment of modernization in Korea can be

Economic assistance from the United States and, to a lesser
extent, from other countries, has made a sizable but as yet
unevaluated contribution to Korean development. A desire to
have an assessment undertaken of this contribution, with
whatever successes of failures have accompanied the U.S.
involvement, was one of the motives for these studies, which
have been financed in part by the U.S. Agency for International
Development and, in part, by the Korea Development Institute.
From 1945 to date, U.S. AID has contributed more than $6
billion ot the Korean economy. There has also been a substantial
fallout form the $7 billion of U.S. military assistance. Most of
the economic assistance was contributed during the period before
1965, and most of it was in the form of grants. In later years
the amount of economic assistance has declined rapidly and most
of it, Though concessional, has been in the form of loans.

Currently, except for a minor trickle, U.S. economic
assistance has ceased. The period of rapid economic growth in
Korea has been since 1963, and in Korea, as well as in other
countries receiving country what is overwhelmingly responsible
for what growth, or absence of growth, takes place.
Nevertheless, economic assistance to Korea was exceptionally
large, and whatever contribution was in fact made by outsiders
needs to be assessed. One of the studies, The Developmental
Role of the Foreign Sector and Aid, deals with foreign
assistance in macroeconomic terms. The contribution of economic
assistance to particular sectors is considered in the other studies.

All the studies in this series have involved American and
Korean Collaboration. For some studies the collaboration has
been close; for others less so. All the American participants
have spent some time in Korea in the course of their research,
and a number of Korean participants have visited the United
States. Only a few of the American participants have been able
to read and speak Korean and, in consequence, the collaboration
of their colleagues in making Korean materials available has
been invaluable. This has truly been a joint enterprise.

The printed volumes in this series will include studies on
the growth and structural transformation of the Korean economy,
the foreign sector and aid, urbanization, rural development, the
role of entrepreneurship, population policy and demographic
transition, and education. Studies focusing on several other
topics- the financial system, the fiscal system, labor economics
and industrial relation, health and social development - will
eventually be available either in printed or mimeographed form.
The project will culminate in a final summary volume on the
economic and social development of Korea.

(※ 서문에서 발췌한 내용임)
Ⅰ. Budgetary Policies and Performance
Ⅱ. Fiscal and Economic Development: Korean Versus
Traditional Patterns
Ⅲ. The Development of the Korean Tax Structure
Ⅳ. Modernization and the Long-Term Growth of
Korean Government Expenditures
Ⅴ. The Distributional Effects of the Korean Budget
Ⅵ. Korean Public Finances During Modernization:
A Summing Up
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