What lesson can be learned from Korea

korea

Abstract

 

This paper carries out a brief literature review of economic growth theory using the divergent growth path of North and South Korea as an instrument to explore through the topic. Institutional features, physical capital, human capital, technology and anti-capitalistic feelings are included among the leading factors responsible of the South Korea success and North Korea failure. Modern economic theory is used to explain how and why it is the case.

 

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