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The Miracle on the Han River is not a Miracle:
Transcript
The Miracle on the Han River is not a Miracle:
Understanding South Korean Economic Growth through the Heckscher-Ohlin Model
Conclusion
- The glorious economic growth of South Korea may deserve the term, "The Miracle on the Han River." However it did not happen "Miraculously"
- Not solely interpreted by the Hecksher-Ohlin model, but the achievement surely had causes.
Applying to
the Heckscher-Ohlin model
A country with goods that are abundant locally will trade with another country that is scarce the goods
Two primary causes
- Export-oriented Policies
- Investing in Education
The Miracle on the Han River
Economic Growth of South Korea
About South Korea
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