Well, land reform helped create a broad consumer class but at the same time subsidized industries were required to compete in international markets early to keep their privileges so they didn't get complacent. In places like Indonesia industrial policy was more a matter of sending money to the allies of those in power. Industrial policy can work to encourage growth but only if the government really wants it to and is competent in how it carries it out.
I think the book on development I'd most recommend on development in general is Gambling on Development but for what exactly South Korea did How Asia Works has the details.
Comments
Well, land reform helped create a broad consumer class but at the same time subsidized industries were required to compete in international markets early to keep their privileges so they didn't get complacent. In places like Indonesia industrial policy was more a matter of sending money to the allies of those in power. Industrial policy can work to encourage growth but only if the government really wants it to and is competent in how it carries it out.
I think the book on development I'd most recommend on development in general is Gambling on Development but for what exactly South Korea did How Asia Works has the details.
Are both the books approachable and enjoyable to read? I find that sometimes this stuff can be factual and content rich but not very digestible.
Thanks for reccos
How Asia works is very approachable. The author was a business reporter so he tells an interesting story with the countries covered
Thanks for the reading material recommendation! Very interesting topic