The Contribution of Industries over Sixty Years of Economic Growth in South Korea

This article reassess the contribution of industries for 60 years of economic growth in South Korea based on the one-digit level industrial classification used in national GDP accounts and analyzes the patterns of industrial concentration of growth by looking at five-digit level industrial classification for the most recent 10 years. Based on the historical evidence of economic growth in South Korea, I draw five lessons for economic growth from industrial policy perspective. It is possible that future economic growth patterns may be totally different with those of the past, but learning from history offers some insight to policy makers seeking a realistic roadmap for continued economic prosperity