Comparative Analysis of Economic Development in Colonial and Post-Colonial Egypt and Korea

Abstract

The paper compares the economic development experiences of Egypt and (S) Korea during the colonial and post-independence periods. It shows that the two most important requirements of modernization are: first, an external condition related to the crucial role that global and regional powers play in promoting or hampering the developing country’s efforts to modernize. The second is an internal one showing that a strong government is usually more efficient in carrying out successful economic policies than a soft one. This is especially true during the early stages of industrialization.