After examining the critical role of the two five year plans (1962-67, focusing on infrastructure development and import substitution; 1967-72, emphasising export oriented industrialisation) in the rapid economic progress of (S) Korea, this paper discusses how mismanaged financial liberalisation...

Computable General Equilibrium models represent a state-of-the-art multisectoral tool for policy analysis in mixed economies. Simulations of the model provide insight into the quantitative structural effects of economic policies, taking into account interactions throughout the economy in a...