Published in 1997, this book traces the history of foreign
investment policy in South Korea from 1961 until the present. It
shows how Korea adopted a highly successful interventionist
strategy towards foreign direct investment channeling it into areas
of the economy where it could achieve the most benefit for the
country's economic development. In recent years Korea has tried to
adopt a more market driven approach. However, differences within
various institutions within the public and private sector led to
policy confusion and ineffectiveness in meeting policy goals. The
conclusion reached is that moving from an interventionist strategy
to a market orientated strategy is difficult in this policy area.
The book breaks new ground because it shows that while the
conventional wisdom is that a 'market economy' approach is
beneficial, moving from an interventionist policy to a
market-orientated one is problematic and cannot be accomplished
quickly.
General
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