Petcu & Siciu: State Capitalism and Economic Growth | The Case of South Korea

ABSTRACT:

The impressive growth of South Korean’s economy is today a reference model for many countries that aim to find a path of modernization and development for their economies. In this paper we intend to present the main socio-economical factors that led to this genuine economical miracle and to argue the aplicability of this model in today’s global world. The development of a country is related to many social, political and economic factors that cannot be thoroughly reproduced, but being aware of a certain type of economical logic can be an important lesson for many developing countries.

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