Challenges to the Export-Led Growth Strategy in the Digital and Global Era: An Empirical Investigation of South Korea’s Experience

• 발행기관: 한국유통과학회
• 저자명: Jung Wan LEE
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 9 No.6, 253~265쪽, 전체 13쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2022.06.30

영문 초록

This paper examines South Korea’s past developmental experience and its current strategy and policy initiatives to overcome global and domestic challenges and sustain economic growth in the twenty-first century, the digital and global era, to explain how the country became a high-income economy. The findings of this research highlight the following three factors: First, the most significant factor in rapid industrialization was the adoption of an outward-looking strategy, with the help of a highly skilled workforce and the development of hightech manufacturing and services sectors, which was supported by the government plans. Second, the high R&D intensity helped South Korea become a global leader in information and communication technologies, which has emerged from a top-down innovation system that promotes close collaboration between government, industry, and the academic community. Third, according to the recently released Global Entrepreneurship Index, South Korea tops the region in entrepreneurship environment. Among the list of criteria, South Korea dominates in the ease of starting a business and enforcing contracts. They all play a significant role in encouraging investment, production, communication, and, eventually, economic growth. Finally, this paper suggests forward-looking developments promoting transformation and diversification into high-tech manufacturing and digital and green technologies.

목차

1. Introduction

2. Data and Methodology

3. Data Analysis and Findings

4. Conclusion and Policy Recommendations

References

키워드

Economic Growth Exports R&D Expenditure High-tech Manufacturing Entrepreneurship