The Reduced Impact of Exports on Korea’s Economic Growth : A Demand-side Approach
|Author||Jong-seok Oh, Sungwook Hong, Duyong Kang||Date||2018.10.18||Page||46|
Until recently, Korea has pursued an export-led growth strategy in which manufacturing exports have played a leading role in the economic growth of the country. There is no question that this strategy has been successful, as Korea joined the ranks of the OECD in a comparatively short period of time. Once one of world’s poorest countries, its GDP per capita reached almost 29,000 USD by 2017.