East Asia Politics, South Korea development Essay

easterly Asia Politics, South Korea development - Essay ExampleThis piece of music briefly analyses the East Asian miracle focusing mainly on and South Korea based on humans Bank paper and some articles written by Atul Kohli and Bela Balassa.The 1993 World Bank policy research subject states that private domestic investment and rapidly growing human capital were the principal engines of growth in South Korea same(p) East Asian countries. Agricultural growth, universe growth rate decline, better ameliorate workforce effective public administrative system and high levels of financial savings also contributed hard for the growth of this region (A World Bank Policy research report, p.5). South Koreans are hardworking population like most of the other Asian people. They have realized the importance of developing indigenous resources like agriculture for their economic development along with industrialization. They also realized the dangers of population growth and implemented um teen another(prenominal) policies to restrict the population growth. Family planning policies were implemented in order to achieve this objective.World Bank report also mentioned the role of governmental intervention through multi channels, in the development of South Korea like East Asian areas developments (A World Bank Policy research report, p.5). It is difficult for a country to develop properly if the problem is tackled from one side only. The economy of a country depends on many aspects and it is necessary to address all these aspects correctly in order to boost the economic growth. South Korea choose a market friendly functional approach for their economic developments. Unlike many other countries they never looked the foreign direct investments suspiciously. They have welcomed and accepted FDI with both hands and formulated specific policies to subsidize cite for some specific industries, keep the interest rates low, protect