By employing a conventional production function, this study advances theoretical and empirical research on the role of economic reforms and human capital on the post-reform economic growth. We construct two unique indices - a composite economic reform index and a human capital index - to perform...

By employing a multivariate time series model, this study advances theoretical and empirical research on the role of economic reforms and human capital accumulation in the post-reform economic growth. We construct two indexes £­a human capital index and a composite economic reform index£­...

This paper examines whether the drivers of economic growth are the same as those for genuine progress in the case of South Korea. Using data covering the period 1970–2005, the paper first constructs a Genuine Progress Indicator (GPI). An empirical model is then specified and estimated using...

We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its...

The post-Kim Jong Il situation on the Korean Peninsula remains tense. This year will be a critical year for the peninsula. Will the new North Korean leadership be successfully stabilized or not? The upcoming presidential election in South Korea will have a great impact on the security situation...

We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its...

This country survey briefly outlines the defence and economic background of the two Koreas and the security environment in the Korean Peninsula. It shows how defence spending to deter a potential North Korean attack has crowded-out the South Korean civilian economy and considers the possibility...