Assignment:
1. Hart-Landsburg writes about South Korea's "rush to development." What methods did the state use to push rapid development in the 1960s and 1970s in South Korea? Discuss some of the similarities between Japan's and South Korea's post-war development strategies. Consider the role of government, credit allocation, planning agencies, finance and the role of large conglomerate firms.
2. According to Stiglitz (Globalization and its Discontents, on blackboard), what were the causes of the financial crisis in East Asia in 1997-1998? What was the IMF response to the crisis? Did IMF policies help or worsen the problems?
Readings:
1. The Rush to Development-Economic change and Political Struggle in South Korea
By Martin Hart-Landsbergs
2. Asias next Gaint-South Korea and Late Industrialization
By Alice H. Amsden