This is Max Thomas's Typepad Profile.
Join Typepad and start following Max Thomas's activity
Join Now!
Already a member? Sign In
Max Thomas
Recent Activity
As many people have also commented, I found the parallels between South Korea’s economic development and our discussions in class to be very interesting. Like many of the countries we’ve discussed in class, South Korea invested heavily in human capital and manufacturing, instituted land-rights reform, (reluctantly) embraced foriegn direct investment, and saw much quicker growth in their modern sector (compared to their traditional sector). Of these seemingly common practices of economic growth, I found South Korea’s relationship with foriegn direct investment the most interesting. Initially, South Korea was hesitant to accept large quantities of foreign aid, fearing a return to past colonial regimes. However, despite their initial reluctance, South Korea quickly became one of the largest beneficiaries of foreign direct investment (largely made by the United States). By embracing foreign aid to their economy, South Korea accelerated their rate of economic development. Because much of the aid given to South Korea was American, I wonder how South Korea’s development story would differ had the United States faced alternative political incentives. Ultimately, investments in South Korea made by the United States were investments made against the Soviet Union. Had there been no conflict on the Korean peninsula, I wonder how a united Korea would fare post-WWII.
Max Thomas is now following The Typepad Team
Oct 7, 2021