EH.Net Abstracts in Economic History

                ABSTRACTS IN ECONOMIC HISTORY
                     (c) 2006 EH.Net
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Name:  Myung Soo Cha
Email:  mscha at yumail.ac.kr
Institution:  Yeungnam University

Co-author:  Nak Nyeon Kim

Title:  Korea's First Industrial Revolution, 1911-40

Internet Address of abstracted work:
http://www.naksung.re.kr/papers/wp2006-3.pdf

By mail:
School of Economics and Finance
Yeungnam University
Kyungsan, 712-749
South Korea

Language: English

Abstract:
We estimate the output and population of colonial Korea to identify a 
precursor to the South Korean industrial revolution. Colonial growth 
was slower than South Korean growth, because income inequality 
hindered human capital accumulation, thereby restricting 
technological advance. Colonial Korea grew faster than other 
countries in the early twentieth century because the country was more 
open but suffered less from worsening and volatile terms of trade. We 
conclude by highlighting a virtuous circle of economic openness, 
human capital accumulation, and equality, which kept Korea growing at 
an above-average pace throughout the twentieth century.

Bibliography: Cha, Myung Soo. "Korea's First Industrial Revolution, 
1911-40," working paper 2006-3, Naksungdae Institute of Economic 
Research, June 2006.

Subject:  D
Geographical Area:  2
Country/Region:  Korea
Time Period:  8

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