The role of science and technology policy for the promotion of economic growth and development in South Korea
Keywords:
Science, technology and innovation policy, industrial policy, economic growth, reforms, South KoreaAbstract
Some policy analysts argue that governments are incapable of making effective or useful choices about which technologies to promote and support to foster economic growth and development. Others argue that many contemporary innovations were developed or came into widespread use as the result of specific government interventions. The article would argue for one of these viewpoints and explain a more useful guide to government policy making. Hence, this paper also investigates the factors of government policy that produced the “Korean miracle,” and how Korea’s policy differed from those of other developing countries. This paper consists of three parts: section one explains the background of the Korean government’s intervention in the domestic industry and market environment; section two investigates the difference between Korean state policy and the policies of other countries; and conclusions follow in section three.References
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