The Making and Implementation of Korea's Industrial Policy from 1960 to 1980

Abstract

According to the World Bank, Ghana and Korea almost had the same level of economic development in the 1950s with Ghana having a slight edge over Korea. However over a span of two decades there emerged a divergence between the two economies with Korea becoming a developed country whilst Ghana remained poor and a recipient of aid. The thrust of the study was to identify the causes of the divergence in development and also to draw lessons for Ghana. The literature reviewed pointed towards the adoption of the developmental state model to the development experience of Korea. In order to unfold the reasons underpinning the divergence in economic development, a comparison of similarities and differences that existed before the divergence was made. In addition some basic macroeconomic indicators such as gross domestic product (GDP), GDP growth rates, investment share rates and per capita GNI of both countries were compared to show the trends in economic development Ghana and Korea. Through the analysis it was revealed that although similarities such as experience of military coup d'e＇tat, low income levels, colonial rule and high population growth rate existed within the two countries; they may not necessarily have resulted in the divergence in economic development. The likely contributory factors such as ethnicity and language diversity, natural resource endowment, neighbours with contagion effect and educational levels which constituted the differences between the two countries could have resulted in the divergence in economic development of Ghana and Korea. It also came to light that the choice of development path, particularly the developmental state model, also contributed to the divergence in economic development. Based on the findings in the analysis some recommendations have been made in view of Ghana's inability to attain economic development akin to Korea. These include designing a comprehensive development strategy, forming strategic alliances with the private sector, improving the health and education sectors. Additionally it was suggested that effort must be made to promote self-help villages to fast-track rural development and also to promote research and development activities to keep pace with advances with technological developments. The study concludes that Ghana needs to adopt the developmental state model in order to attain economic success.;세계은행에 따르면 가나와 한국은 1950년대 거의 비슷하지만, 가나가 약간 앞서는 경제수준을 갖고 있었다. 그러나 20년이 지난 후 두 국가간의 격차가 크게 벌어지면서 한국이 선진국으로 발전한 반면, 가나는 원조를 받는 빈곤국이 되었다. 이 논문의 핵심은 이러한 개발의 격차가 발생하게 된 원인을 밝히고, 한국의 경험으로부터 가나의 교훈 점을 찾고자 한다. 한국의 개발 경험은 발전국가 모델로 흔히 설명되고 있다. 이 논문은 두 국가간의 격차 발생의 원인을 밝히기 위해 격차가 발생하기 이전에 두 국가간의 유사점과 차이점을 비교한다. 두 국가는 군사쿠데타, 저소득, 식민지경험, 높은 인구증가율 같은 유사점을 갖고 있다. 하지만 이런 유사점이 경제발전의 같은 결과를 가져오지 않았다. 인종과 언어의 다양성, 천연자원여부, 이웃국가가 미치는 영향, 교육 같은 요인들이 가나와 한국간의 다른 경제발전 결과를 낳게 되었다. 개발과정 선택, 특히 발전국가모델의 선택 또한 두 나라간의 다른 결과를 설명한다. 본 논문은 자료분석 결과를 바탕으로, 한국처럼 경제발전을 이루지 못한 가나에 대해 포괄적인 개발전략 구성, 민간부문과 전략적 연합 실시, 보건 및 교육부문 개선을 제안한다. 또한 빠른 시일 내에 농촌개발을 달성하기 위해서 자립마을 건립 추진을 제안한다.