South Korean development centred on large enterprises, and mostly on giant business conglomerates called chaebol. The study deals with objective conditions for "chaebolization", business diversification through subsidiaries and personal connections between government and business. It notes that...

The extremely rare type of high level, sustained postwar economic growth experienced by the Republic of Korea (South Korea) and Taiwan has drawn the attention of many scholars interested in economic development. The authors of this paper suggest that there were different mechanisms by which the...