About new paradigm of opportunities to use South Korean experience in industrialization of the economy for Polish needs Cover Image

Szanse wykorzystania dla potrzeb Polski doświadczeń z procesu industrializacji południowo-koreańskiej gospodarki
About new paradigm of opportunities to use South Korean experience in industrialization of the economy for Polish needs

Author(s): Marek Gruchelski
Subject(s): Economy, National Economy
Published by: Wydawnictwo Wyższej Szkoły Menedżerskiej w Warszawie
Keywords: Industrialization;multi-conglomerates (chaebol); reindustrialization;exchange rate policy; labor market

Summary/Abstract: The article discusses the opportunities offered by use of the experience which have arisen in the process of industrialization of the South Korean economy. The conducted article analysis shows that all of the four major sources of economic success of South Korea such as: a) against the advice of IMF experts systematic implementation of technical progress by forcing industrialization of South Korean economy moving from agriculture to light industry followed by heavy, chemical and automotive industry, ship building, advanced electronic technology, information technology or construction and export of nuclear power plants in spite of current difficulties proved to be very effective in the long run, supporting the local private sector with extensive use of so-called cross-industry conglomerates so called chaebol; b) compliance with the principle that economic changes should be accompanied by educational policy focused on building human capital adjusted for the later stages of development; c) constant political will to subordinate economic policy to development of the state, are after suitable adaptation, to be used in the development and implementation of a long-term strategy for the development of the Polish economy

  • Issue Year: 9/2014
  • Issue No: 1
  • Page Range: 39-43
  • Page Count: 5
  • Language: Polish