In analyzing the turning point in Korea's transition in the early 1960s from a strategy of import substitution to one of export-oriented industrial growth, the authors examine not just the economics of change but the politics of economic policy and reform - the incentives facing state and...

The reform package in post-crisis Korea was one of the most comprehensively designed and decisively implemented. Though impressed by the quick recovery, many are now raising doubts about real changes in the economy, as the result of a cost-benefits analysis: While the business climate is more...