Development in south korea latin amer – Сustom Literature essay

DEVELOPMENT IN SOUTH KOREA & LATIN AMER. Research Papers, Essays, and Term Papers 1-800-351-0222 or 310-313-1265 Or Order On-Line! DEVELOPMENT IN SOUTH KOREA & LATIN AMER.  Term Paper ID:23360 Buy This Paper Essay Subject: Compares economic success in Korea with failure in Latin Amer.


& politics, export-industrialization vs. import-substitution economies, leadership, foreign investment, dependency theory.... 27 Pages / 6075 Words 17 sources, 16 Citations, APA Format Rating 100.00 More Papers on This Topic Paper Abstract: Compares economic success in Korea with failure in Latin Amer. Govt. & politics, export-industrialization vs.

Import-substitution economies, leadership, foreign investment, dependency theory.

Paper Introduction: Much of the academic discussion about the political economy of development has turned upon the contrast between East Asia and Latin America. East Asian growth, embodied especially in the case of South Korea, has been dynamic and powerful and is seen largely as the result of the development of an export-industrialization economy. Latin American growth, on the other hand, has been sluggish and is seen largely as the result of the development of an import-substitution economy.

Yet, both South Korea and the Latin American countries had begun as relatively undeveloped areas of the globe in the mid-1900s and were subject to many of. the same external influences--namely, American military and economic intervention--attempting to shape the future political and economic courses of these regions.

The question that arises is why have South Korea and other East Asian Thesereforms significantly reduced the gap between rich and poor, setting thestage for a relatively homogenous society. Thepolitical regime is popularly elected and a great deal of freedom ofexpression is now permitted.

Ithaca: Cornell University Press, pp.2 3-226. (Eds.), Manufacturingmiracles.

One was the development of a technological vanguard, generallypioneered by public-sector enterprises and later nurtured by governmentalinitiative in partnership with private firms.

This is thestate of economic under-development throughout much of Latin America.

The masses could then use the economic surplus, which was beingextracted to the center via an alliance between the bourgeoisie indeveloping countries and foreign capitalists, for purposes of socialistdevelopment. The Allies had agreed at wartime conferencesthat Korea should be free of the Japanese, but the transition toindependence proved complicated. (199 ). Equally important, Korean politics todaytends to be competitive between opposing political parties and specialinterest groups--a key component of a democratic and open political system.

While schooled indemocratic ideals, Rhee could not trust his countrymen with such afreewheeling system because of his staunch anticommunism and rigidity. Thus during Rhee's term in office, and despite U.

S. one of the latest projections is that the country'sgross national product is increasing by an average of 8.1 percent. In order to fully understand how these regions have developed alongdifferent lines, this research will first lay out the tensions andconflicts of Latin American development. Development economists began to offeralternative approaches that would take into account the welfare of thepoorest segments of society in developing countries. (199 ).

Kim, H.

Within five days of the North Korean invasion, PresidentHarry S. East Asian growth, embodied especially in the case of SouthKorea, has been dynamic and powerful and is seen largely as the result ofthe development of an export-industrialization economy. Demand forinvestment goods was significantly delayed as was demand for foreignconsumer goods, and a large industrial work force. While industrial developmentrequires substantial concentrations of wealth for investment purposes, inThird World countries, it also is promoted by a civil society which viewsindustrialization as a common interest. Themodel of dependent development will then be applied to the Latin Americanexperience and contrasted with the experience of South Korea.

Labor intensive innovationsincluded new rices and multiple cropping.

(Ed.),Dependency issues in Korean development: Comparative perspectives.

AndWyman, D.

The first consequence was that the economy becamemore, rather than less, dependent on foreign imports. Mechanization, the large-scale use of agrochemicals anddiversification into new cash crops, required expertise and large capitalinvestments.


), The political economy of the newAsian industrialism. "Class, state and dependence in East Asia:Lessons for Latin Americanists." In Deyo, F. & Geisse, G. In South Korea especially, this systemwas associated with administrative complexity and corruption.

Pathways from the periphery. This isnot an ordinary symptom of wear and tear.

Dependent development. (Ed.), The political economy of thenew Asian industrialism. 51-55),. South Korea passed, in the years after the Second World War, throughan extended import-substituting phase (Koo, 1987, pp.

In any capitalist society, thekey to economic growth is the capacity to enlarge the scale of capital. This cannot be achieved without the creation of new technologies and anongoing expansion of the production of capital goods--the machinery andequipment necessary to maintain growth of enterprise expansion and capitalaccumulation. This economic philosophy, which contributed considerably to the debtcrisis, is still widely accepted in Latin America, particularly amongintellectuals. Prior to theshift from an import-substitution economy to an export-oriented industrialeconomy, the South Korean governmental administration--a thoroughlyexpansive governmental bureaucracy in the tradition of Japanese colonialism--seized control over much of Korean agriculture.

Villarreal, R. 292-32 .

----------------------- 6 and South Korean praisefor his goals, there was scant political pluralism and even less democracy.

Deyo, F., ed.

Some scholars have argued that theconsumption habits of the ruling elite in peripheral countries deterredcapital investment, increased income inequalities, and created a dependenceon foreign technology.

In theSouth an elderly Princeton graduate named Syngman Rhee emerged as theleader. South Korea has evolved bothpolitically and economically relatively independent of the capitalistdomination by the United States and other core countries--at least incomparison to Latin American countries. 212). The question that arises is why have South Korea andother East Asian nations developed in a far different fashion than LatinAmerican countries? Theclass formation that took nearly a century in Europe occurred over a matterof three decades in South Korea.

Special rates established for new or marginal exportmarkets were fiscally costly, and often varied too much to be effective. over the long haul, exports tended to remain limited to previouslyestablished markets, usually cash crops. By the late 196 s foreign direct investment had risen substantially. Korea was on a course of significant employment growth and rising realwages; there were even labor shortages in Korea after the late 196 s.

South Korea's historical experience with foreign occupation ingeneral, and the colonial administration of Japan in particular, led to theevolution of a strong state with limited class conflicts. Thus, making problems even worse, it became politically much moredifficult for the government to impose necessary adjustments anddepreciations in the value of currency than it had been in earlier decades. There were, however, two crucial differences. At thistime, its political economy resembled, in many respects, the Latin Americaneconomies in the heyday of autarchic industrialization and import-substitution. Criticism of the neo-Marxist school camefrom Marxists as well as non-Marxists.

"Contrasts in the political economy ofdevelopment policy." In Gereffti, G. Most LatinAmerican leaders have little concern for the dangers of state power. Occasional market-oriented reforms are allowed for short-term, practicaleconomic reasons. One reason that SouthKorean products compete so effectively on the world market is that wages inSouth Korea are generally low and working conditions often bad.

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