Industrial Policies and Outcomes: A Comparison of Pre-liberalized Korean and Turkish Economies

Q3 Social Sciences

Journal of Comparative Asian Development Pub Date : 2016-01-02 DOI:10.1080/15339114.2015.1128843

Murat Yulek

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引用次数: 3

Abstract

ABSTRACT Since the 1960s Korea and Turkey have been among the fastest growing economies globally with a transformation of their economic structures from an agrarian into an industrial one. However, design and implementation of their industrial polices have been different, leading to different industrialization paths and end points. This paper reviews and contrasts the industrial policies in the two countries on a comparative basis during their periods of rapid industrialization that precede economic and financial liberalization (1960–80 for Turkey and 1962–97 for Korea). Korean industrial policies were more focused; targeting specific industries and complementing this with manpower and technology policies. While import substitution has been prevalent in both countries, Korea has simultaneously emphasized export orientation and Turkey has not. Macroeconomic management was more prudent in Korea than in Turkey. Repressive financial policy together with directed credits were common in both, as were tax incentives favouring industrial investments.

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产业政策与结果:开放前韩国和土耳其经济的比较

自20世纪60年代以来，韩国和土耳其的经济结构从农业向工业转型，成为全球增长最快的经济体之一。然而，各国产业政策的设计和实施各不相同，导致了不同的工业化路径和终点。本文在比较的基础上回顾和对比了两国在经济和金融自由化之前的快速工业化时期(1960-80年为土耳其，1962-97年为韩国)的产业政策。韩国的产业政策更加集中;针对特定行业，并辅以人力和技术政策。虽然两国都盛行进口替代，但韩国同时强调出口导向，而土耳其却没有。韩国的宏观经济管理比土耳其更为谨慎。压制性金融政策和直接信贷在两国都很常见，有利于工业投资的税收优惠也是如此。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Comparative Asian Development Social Sciences-Political Science and International Relations

CiteScore

1.30

自引率

0.00%

发文量

期刊介绍： The Journal of Comparative Asian Development (JCAD) aims to offer the most up-to-date research, analyses, and findings on the many aspects of social, economic, and political development in contemporary Asia conducted by scholars and experts from Asia and around the world.