Development in South Korea & Latin America

4 April 2015
Compares economic success in Korea with failure in Latin Amer. Govt. & politics, export-industrialization vs. import-substitution economies, leadership, foreign investment, dependency theory.

Much of the academic discussion about the political economy of development has turned upon the contrast between East Asia and Latin America. East Asian growth, embodied especially in the case of South Korea, has been dynamic and powerful and is seen largely as the result of the development of an export-industrialization economy. Latin American growth, on the other hand, has been sluggish and is seen largely as the result of the development of an import-substitution economy. Yet, both South Korea and the Latin American countries had begun as relatively undeveloped areas of the globe in the mid-1900s and were subject to many of.the same external influences–namely, American military and economic intervention–attempting to shape the future political and economic courses of these regions. The question that arises is why have South Korea and other East Asian

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