A Report On Korean Industrial Production

1930 WordsApr 29, 20158 Pages
Introduction • VoC approach does not provide sufficient prototypes. • South Korea is SME • Turkey is also SME because it has similar characteristics. State policies are similar. • However, outcomes of these state policies are quite different (give figures) In the mid-1950 's, Turkey was a much richer country than Korea. With about the same population, Turkish GNP was about three times that of Korea, Turkish exports were fifteen times those of Korea, and the Turkish savings rate was much higher than Korean. By 1980, the situation was dramatically reversed, as Turkish income was 40 percent below Korea 's, Turkish exports were less than one-fourth those of Korea and the Turkish savings rate was about two—thirds of Korea 's. (Krueger) • There are either economic advantages or economic disadvantages to a military alliance with the United States, both countries had them. And, insofar as proximity to a rapidly growing region of the world affects growth, Turkey and Korea had Europe and Japan, respectively (Krueger). • Korean industrial production rose forty-five-fold between 1960 and 1984, whereas Turkish industrial production was 6.6 times higher in the same period. (Yilmaz) • During the period 1963-1990, total factor productivity (TFP) increased at an average rate of 2.4 percent in Korea. In this period, TFP in Turkey increased at an average rate of almost 0.9 percent. (Yilmaz) • In the absence of big private businesses in Turkey, the state assigned a leading and dominant role

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