https://padlet.com/acealicevans/66o441fxzmetp2bj Do the readings, rate each theory & add critical comments!! Explain their limits & contingency!! What else was important? Add your own posts! en-us 2020-06-18 08:46:41 UTC 2023-02-22 08:22:38 UTC hello@padlet.com https://padlet.net/icons/png/1f3d9.png acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631825747
- Incentivised firms to become more economically efficient;
- Accelerated technological progress;
- Increased industry productivity.]]> 2020-06-18 08:50:47 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631825747 acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631831268
- Raised agricultural productivity
- Increased peasant incomes
- Boosted internal demand for industrial products
- Released surplus labour to factories
- Enabled the state to extract an agrarian surplus to finance industrialisation
- Reduced the price of food

- Weakened the landlord class?]]> 2020-06-18 08:55:01 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631831268 acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631850303 Government supported key industries with subsidies, technology transfers via licensing, technical assistance, thereby lowering the risk of investment. 

The Government also set time-bound, export targets for sectors and firms. Success was rewarded with easy credit, tax benefits, and prestige. Failure meant tax audits and a credit squeeze ]]> 2020-06-18 09:10:06 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631850303 acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631892854 The Government of South Korea faced a militarised North Korea, the looming threat of Communism, and peasant unrest.

SK leaders feared for their existential survival.

This mentality (together with U.S. economic support) could have influenced the political economy of both land reform and industrial policy.

Geopolitics also influenced US support.]]> 2020-06-18 09:45:50 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631892854 acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631900577 Government subsidies for technology transfers were not sufficient for *adoption*.

A highly educated workforce (with technological, engineering, and managerial skills) enabled South Korea to transition into more advanced manufacturing (automotives, electronics).]]> 2020-06-18 09:52:57 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631900577 acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631908835 A powerful executive was single-mindedly focused on national development.

The bureaucracy was professional and competent (partly a legacy of Japanese colonialism, but also ongoing training).

SK governments were thus able to discipline businesses,  unlike Latin American governments were not –Kay, Kohli, Wade 

RATE THIS FIVE STAR IF YOU THINK 'GOOD INSTITUTIONS' WERE A PRE-CONDITION FOR GROWTH!]]> 2020-06-18 10:00:38 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631908835 acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631944154 2020-06-18 10:33:22 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631944154 acealicevans https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631947040 Japanese firms migrated to South Korea (and Taiwan) to take advantage of low labour costs (Akamatsu likened this to this ‘flying geese’). ]]> 2020-06-18 10:36:12 UTC https://padlet.com/acealicevans/66o441fxzmetp2bj/wish/631947040