Korea’s Big Push: Export Promotion and Industrial Policy in the Development Era

Wonhyuk Lim (Korea Development Institute)

Contents

1. Introduction

• Alternative Views on Economic Development
• Three Challenges for Economic Development
• Korea’s Response
• Comparative Growth Experience

2. Initial Conditions

• Aid-Dependent Near-Autarky
• Resource Endowment and Institutional Infrastructure

3. Korea’s Big-Push Partnership

• Transition to State-Led Outward-Oriented Economic Development
• Export Promotion and Industrial Policy

4. Lessons from Korea’s Big Push

• Compelling Vision
• Bootstrapping and Feedback: Pragmatism
• Indicative Planning
• Export Orientation: Market Test for Government and Business
• Industrial Policy: Integrated Engineering Approach

5. Conclusion