Lee, Hun-Chang; Temin, Peter - In: Journal of Institutional and Theoretical Economics (JITE) 166 (2010) 3, pp. 548-571
Preindustrial Korea had little foreign trade in spite of the advantage of being a small peninsular country. We present a theory of political economy to show that the preindustrial Korean policy of suppressing private trade, like that of China, only can be explained by noneconomic factors such as...