Economics of the Latecomers

This book examines the spectacularly successful economies of East Asia, Japan and South Korea. The comparison of the ''catching-up'' process in Japan and South Korea includes studies of the iron and steel and semi-conductor industries. The author shows the difficulties involved in trying to detect general patterns of development, as both countries appear to respond to different technological imperatives. As a result general models of development should be treated with caution, given the need to consider different historical and institutional contexts.