Liberalizacja czy efektywna ingerencja państwa w gospodarkę - w świetle rozwoju gospodarczego Korei Południowej
Liberalization or effective government intervention - in the light of South Korean economic development

Summary/Abstract: This paper addresses the topic of the mechanism of accelerated economic growth in South Korea during Park Chung Hee's rule (1961-1979). The author describes two dominant theories explaining the nature of the Korean economic miracle. Neoclassical economists argue that the country developed quickly due to economic liberalization and free market forces. The opposing statist approach attributes the success story to comprehensive government intervention. The concept of coordination failure explains the potential of beneficial active government involvement with respect to developing economies. The author points out that the economic policy carried out by the Park Chung Hee regime complies with this model.

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