The maturation and growth of infant industries: The case of Korea

doi:10.1016/S0305-750X(97)00035-1

World Development

Volume 25, Issue 8, August 1997, Pages 1271-1281

https://doi.org/10.1016/S0305-750X(97)00035-1 Get rights and content

Abstract

This paper first shows that, contrary to evidence from most developing countries, Korean infant industries under protection have tended to mature. It also shows that output grows faster in infant industries than in mature ones. The paper then discusses probable factors that have made the maturation and growth of infant industries possible in Korea. Overall, the empirical evidence and its interpretation support the “revisionist” rather than neoclassical or “market friendly” view in the recent debate on East Asian industrialization.

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^∗: The research for the paper was financed by Korea Research Foundation. I am grateful to Professor Walter Park and an anonymous referee for helpful comments. Mr. Sung-duk Hong kindly provided data. The remaining errors, however, are of course mine.

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The maturation and growth of infant industries: The case of Korea

Abstract

European Economic Review

World Development

Journal of Development Economics

World Development

World Development

Asia's Next Giant: South Korea and Late Industrialization

“Post-industrial” policy in East Asia

The Structure of Protection in Developing Countries

Development Strategies for Semiindustrial Economies

Practical general equilibrium estimation of resource pulls under trade liberalization

Journal of International Economics

Trade Policy and Economic Welfare

Trade policies and economic development

The Adoption and Diffusion of Imported Technology: The Case of Korea

An empirical test of the infant industry argument: Comment

American Economic Review