We look at Korea's industrialization strategy and experience from the 1960s to the mid-1990s. Three elements of the Korean industrial development and structural change are discussed: 1) its outward orientation and export push, 2) its climb up the ladder of comparative advantage, and 3) its...

Economists have long relied on cross-country regression analysis to identify the determinants of continued growth, but with only limited success. This book demonstrates the value of a different approach