1998 | OriginalPaper | Chapter
The Developmental Alliance for Industrialization in East Asia: State and Business in South Korea and Taiwan
Author : Eun Mee Kim
Published in: Industrial Transformation in Eastern Europe in the Light of the East Asian Experience
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The East Asian NICs of South Korea, Taiwan, Hong Kong and Singapore have attained some of the most rapid rates of economic development in the world in the last three decades. South Korea recorded 7.1 per cent in average annual growth rate of GNP per capita between 1965 and 1980, making it the second fastest growing economy in the world — after Botswana — during that period (World Bank 1992). Between 1980 and 1992, South Korea was the fastest growing economy in the world with an impressive 8.5 per cent in average annual growth rate of GNP per capita.