Munich Personal RePEc Archive

Az import liberalizálása Dél-Koreában

Gács, János (1992): Az import liberalizálása Dél-Koreában. Published in: Külgazdaság , Vol. XXXVI, No. 1992. No. 11 (November 1992): pp. 46-64.

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Indicators of economic development of South Korea reflect outstanding progress. In the past three decades different phases of development succeeded one after another. The essence of general Park Chong Chu’s strategy was export-directed industrialization and import substitution with high import duties and differentiated export subsidies. When the layer of private owners became strong, importing was made easier and a monetary reform was introduced. A hyperactive role of the government was allowed by unique institutions in Korea. From the beginning of the 1970-ies, a Central Project for Heavy Industry went on with increased import protection and state credits. In order to release tensions caused by an inflexible system of financing, the over-centralized system, already badly functioning with the stipulated rules, was made slightly more flexible, though still important limitations were kept in force. Liberalization seems to be more intense since only 1984.

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