Economic Growth and Structure in the Republic of Korea.

Today the Republic of Korea is a country with steadily and harmonious growing economy; it is a country whose positions in global rankings have high indicators. Analysts study the experience of the economic growth of the Republic of Korea, measures to overcome the crisis, the successful implementation of economic and political reforms that have led to a leading position in the international community. This experience is very important for Uzbekistan as well.

Download Full-text

Economic Policy Responses to COVID-19 of the Northeast Asia Countries

Spatial Economics ◽

10.14530/se.2021.3.156-178 ◽

2021 ◽

Vol 17 (3) ◽

pp. 156-178

Author(s):

Dmitriy Izotov ◽

Keyword(s):

Economic Growth ◽

Economic Policy ◽

Positive Impact ◽

Northeast Asia ◽

Economic Recession ◽

Republic Of Korea ◽

Economic Policies ◽

Financial Policies ◽

Savings Rate ◽

The Republic

Once at the epicenter of the original source of the coronavirus spread, the governments of China, the Republic of Korea and Japan introduced immediate administrative measures to isolate the population, which helped to effectively contain the spread of COVID-19 on their territory. The review shows that in the first half of 2020, due to policy of isolation in these Northeast Asia countries, there was a contraction of their economies. The subsequent dynamics of economic growth of the three Northeast Asia countries indicated structural differences in their economies. In the face of economic recession during a COVID-19 pandemic, the governments of Northeast Asia countries are applying stimulating economic policies, with Japan having the largest public spending with respect to its GDP, followed by the Republic of Korea and China. In China, the support for the economy is focused on fiscal policy measures, in the Republic of Korea – monetary and macro-financial policies, in Japan – a combination of policies’ various measures. In the context of a decrease in the coronavirus spread, mid-term estimates indicate that these three countries will be able to maintain positive economic growth rates while investment supporting of the green and digital technologies, including the support through the measures of economic policy. These support measures could have a short- and medium-term positive impact on the economies of the three Northeast Asia countries. However, for the purpose to localizing the pandemic in these countries large fiscal expenditures will contribute to the further growth of their public debt, thereby reducing the national savings rate, restraining the dynamics of their economic growth in the long term

Download Full-text

Social Change—The Essence of Development (Keynote Address)

The Pakistan Development Review ◽

10.30541/v36i4ipp.315-320 ◽

1997 ◽

Vol 36 (4I) ◽

pp. 315-320

Author(s):

Nafis Sadik

Keyword(s):

Economic Growth ◽

Social Change ◽

21St Century ◽

Early Years ◽

Drastic Change ◽

Republic Of Korea ◽

Keynote Address ◽

Great Rivers ◽

The Republic ◽

Historical Moment

This is a critical historical moment, in the 50th year of our independence. Our decisions, commitment and action in the next few years will affect our country for much of the 21st century. The decisions needed would be a challenge for any country: for Pakistan they involve a drastic change in development priorities. Our development efforts since Independence have gone into building the economy. In the early years this was quite successful: we harnessed the great rivers for power and irrigation; we revolutionised agriculture, we pushed exports up to new levels. For a time economic growth was quite dynamic. But we were always aware that something was missing. At Independence Pakistan started more or less even with other countries in the region. All our efforts since then have left us lagging behind. In 1950 the Republic of Korea had about the same GNP per head as Pakistan. Today Korea’s GNP is $7,670; ours $476. That is a difference of 1,611 percent.

Download Full-text