Creating your own path to move beyond the middle-income trap: lessons from Korea
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Nova Economia (Online) |
Texto Completo: | https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6293 |
Resumo: | Abstract The development experience observed in Korea has been a symbol of successful catch-up for several decades. This process allowed its upward transition from middle income to high-income status and has drawn the attention of many streams of scholars. More recently, emergent research has improved our understanding of this experience and its policy implications for developing countries (Lee, 2013; 2016; 2019). This paper proposes a review of what this literature has to say about the mechanisms behind the successful path followed by Korea and a discussion of lessons to overcome the middle-income trap. It is argued that latecomers do not limit themselves to follow the path of technological development of the advanced countries and that alternative paths are possible. The main policy implication for latecomers is that a successful catch-up is possible yet difficult to achieve because it requires taking detours and leapfroging into new technologies. Keywords: Catch-up, South Korea, Middle-income trap. JEL Codes: O21, O14, D83. |
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Creating your own path to move beyond the middle-income trap: lessons from KoreaCreando tu propio camino para ir más allá de la trampa de la renta media: lecciones de CoreaCriando seu próprio caminho para ir além da armadilha de renda média: lições da CoréiaAbstract The development experience observed in Korea has been a symbol of successful catch-up for several decades. This process allowed its upward transition from middle income to high-income status and has drawn the attention of many streams of scholars. More recently, emergent research has improved our understanding of this experience and its policy implications for developing countries (Lee, 2013; 2016; 2019). This paper proposes a review of what this literature has to say about the mechanisms behind the successful path followed by Korea and a discussion of lessons to overcome the middle-income trap. It is argued that latecomers do not limit themselves to follow the path of technological development of the advanced countries and that alternative paths are possible. The main policy implication for latecomers is that a successful catch-up is possible yet difficult to achieve because it requires taking detours and leapfroging into new technologies. Keywords: Catch-up, South Korea, Middle-income trap. JEL Codes: O21, O14, D83.La experiencia de desarrollo observada en Corea ha sido un símbolo de recuperación exitosa durante varias décadas. Este proceso permitió su transición ascendente de ingresos medios a estatus de ingresos altos y ha llamado la atención de muchas corrientes de académicos. Más recientemente, la investigación emergente ha mejorado nuestra comprensión de esta experiencia y sus implicaciones políticas para los países en desarrollo (Lee, 2013, 2016, 2019). Este documento propone una revisión de lo que dice esta literatura sobre los mecanismos detrás del camino exitoso seguido por Corea y una discusión de las lecciones para superar la trampa de ingresos medios. Se argumenta que los recién llegados no se limitan a seguir el camino del desarrollo tecnológico de los países avanzados y son posibles caminos alternativos. La principal implicación política para los recién llegados es que una recuperación exitosa es posible pero difícil de lograr porque requiere tomar desvíos y saltar a nuevas tecnologías.Resumo A experiência de desenvolvimento observada na Coréia tem sido um símbolo de catch-up bem-sucedido por várias décadas. Esse processo permitiu sua transição ascendente do status de renda média para a alta e tem chamado a atenção de muitas correntes de estudiosos. Mais recentemente, pesquisas emergentes têm melhorado a nossa compreensão dessa experiência e suas implicações políticas nos países em desenvolvimento (Lee, 2013; 2016; 2019). Este artigo propõe uma revisão do que esta literatura tem a dizer sobre os mecanismos por trás do caminho bem-sucedido seguido pela Coréia e uma discussão de lições para superar a armadilha da renda média. Argumenta-se que os países retardatários não se limitam a seguir o caminho do desenvolvimento tecnológico dos avançados e que são possíveis caminhos alternativos. A principal implicação de política para os retardatários é que um catch-up bem-sucedido é possível, mas difícil de alcançar, porque requer detours e leapfrog para as novas tecnologias. Palavras-chave: Catch-up, Coréia do Sul, Armadilha da renda média. Códigos JEL: O21, O14, D83.Departamento de Ciências Econômicas da UFMG2021-03-29info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6293Nova Economia; Vol. 30 No. Especial (2020): Special Issue "Middle Income Traps"; 1145-1167Nova Economia; v. 30 n. Especial (2020): Número Especial "Middle Income Traps"; 1145-11671980-53810103-6351reponame:Nova Economia (Online)instname:Universidade Federal de Minas Gerais (UFMG)instacron:UFMGenghttps://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6293/3359Copyright (c) 2021 Paulo Henrique Feitosahttp://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessFeitosa, Paulo Henrique2021-04-22T19:49:29Zoai:ojs.pkp.sfu.ca:article/6293Revistahttps://revistas.face.ufmg.br/index.php/novaeconomiaPUBhttps://revistas.face.ufmg.br/index.php/novaeconomia/oai||ne@face.ufmg.br1980-53810103-6351opendoar:2021-04-22T19:49:29Nova Economia (Online) - Universidade Federal de Minas Gerais (UFMG)false |
dc.title.none.fl_str_mv |
Creating your own path to move beyond the middle-income trap: lessons from Korea Creando tu propio camino para ir más allá de la trampa de la renta media: lecciones de Corea Criando seu próprio caminho para ir além da armadilha de renda média: lições da Coréia |
title |
Creating your own path to move beyond the middle-income trap: lessons from Korea |
spellingShingle |
Creating your own path to move beyond the middle-income trap: lessons from Korea Feitosa, Paulo Henrique |
title_short |
Creating your own path to move beyond the middle-income trap: lessons from Korea |
title_full |
Creating your own path to move beyond the middle-income trap: lessons from Korea |
title_fullStr |
Creating your own path to move beyond the middle-income trap: lessons from Korea |
title_full_unstemmed |
Creating your own path to move beyond the middle-income trap: lessons from Korea |
title_sort |
Creating your own path to move beyond the middle-income trap: lessons from Korea |
author |
Feitosa, Paulo Henrique |
author_facet |
Feitosa, Paulo Henrique |
author_role |
author |
dc.contributor.author.fl_str_mv |
Feitosa, Paulo Henrique |
description |
Abstract The development experience observed in Korea has been a symbol of successful catch-up for several decades. This process allowed its upward transition from middle income to high-income status and has drawn the attention of many streams of scholars. More recently, emergent research has improved our understanding of this experience and its policy implications for developing countries (Lee, 2013; 2016; 2019). This paper proposes a review of what this literature has to say about the mechanisms behind the successful path followed by Korea and a discussion of lessons to overcome the middle-income trap. It is argued that latecomers do not limit themselves to follow the path of technological development of the advanced countries and that alternative paths are possible. The main policy implication for latecomers is that a successful catch-up is possible yet difficult to achieve because it requires taking detours and leapfroging into new technologies. Keywords: Catch-up, South Korea, Middle-income trap. JEL Codes: O21, O14, D83. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-03-29 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6293 |
url |
https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6293 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/6293/3359 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2021 Paulo Henrique Feitosa http://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2021 Paulo Henrique Feitosa http://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Departamento de Ciências Econômicas da UFMG |
publisher.none.fl_str_mv |
Departamento de Ciências Econômicas da UFMG |
dc.source.none.fl_str_mv |
Nova Economia; Vol. 30 No. Especial (2020): Special Issue "Middle Income Traps"; 1145-1167 Nova Economia; v. 30 n. Especial (2020): Número Especial "Middle Income Traps"; 1145-1167 1980-5381 0103-6351 reponame:Nova Economia (Online) instname:Universidade Federal de Minas Gerais (UFMG) instacron:UFMG |
instname_str |
Universidade Federal de Minas Gerais (UFMG) |
instacron_str |
UFMG |
institution |
UFMG |
reponame_str |
Nova Economia (Online) |
collection |
Nova Economia (Online) |
repository.name.fl_str_mv |
Nova Economia (Online) - Universidade Federal de Minas Gerais (UFMG) |
repository.mail.fl_str_mv |
||ne@face.ufmg.br |
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1799711060348895232 |