The Miracle on the Han River: South Korean Economic Development

Year 2018, Volume: 68 Issue: 1, 93 - 112, 27.06.2018

Rahmi Çetin , Songül Karadaş

Abstract

This study aims to examine the long-term macroeconomic performance of South Korea during the period 1963–2015 by using certain macroeconomic variables. In the 1960s, South Korea was a typical developing country with poor natural resources, low production, and a small domestic market. By following an outward-looking development strategy and other policies, South Korea has transformed itself from an agriculture-intensive economy into one of the world’s most dynamic industrial economies within 40 years.The study concludes that the combination of an outward-looking development strategy, a well-educated and well-disciplined labor force, and technological innovation is mainly responsible for Korea’s long-term growth success. In addition, the country’s close ties with Japan and the US have contributed to its high growth performance due to substantial foreign aid obtained from these developed countries.

Keywords

Outward-looking development policy, education and technology policies, South Korea

Han Nehri Mucizesi: Ekonomik Kalkınmada Güney Kore Örneği

Abstract

Bu makalenin amacı Güney Kore’nin 1963-2015 döneminde göstermiş olduğu makroeknomik performansı çeşitli uluslar arası kuruluşların sağladığı temel makroekonomik veriler yardımıyla betimsel analiz yöntemi kullanalarak incelemektir. Ülke 1962 yılından itibaren uygulamaya koyduğu dışa açık kalkınma politikasıyla tarım ağırlıklı bir ülke konumundan 40 yıl gibi kısa bir zaman dilimi içerisinde dünyanın en dinamik endüstriyel ekonomilerinden birisi konumuna yükselmiştir. Bu çalışmada, Güney Kore’nin uzun dönemli ekonomik büyümesinde dışa açık kalkınma modelinin, iyi eğitimli ve disipline edilmiş işgücünün ve teknolojik yeniliklerin ve bunların birbiriyle uyumlu çalışmasının etkili olduğu görülmektedir. Ayrıca bu başarıda ülkenin Japonya ve ABD ile olan yakın ilişkileri sebebiyle kalkınmada gerekli dış yardımların zamanında ve uygun şartlarda elde edilmesinde önemli rol oynamıştır.

Keywords

Dışa açık kalkınma modeli, eğitim ve teknoloji politikaları, Güney Kore

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