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Seoul Journal of Economics
[ Article ]
Seoul Journal of Economics - Vol. 27, No. 3, pp.223-255
ISSN: 1225-0279 (Print)
Print publication date 31 Aug 2014
Received 12 Jan 2014 Revised 05 Jul 2014 Accepted 09 Jul 2014

Comparative Analysis of Economic Development in Colonial and Post-Colonial Egypt and Korea

Khairy Tourk
Professor, Department of Economics, Renmin University of China and the Illinois Institute of Technology, Chicago and Senior Economic Advisor, The Adlai Stevenson Center on Democracy, Tel: 312-906-6537, Fax: 312-906-6549 Khairytourk@gmail.com

JEL Classification: O1, N4, F5, O57, P5

Abstract

The paper compares the economic development experiences of Egypt and (S)Korea during the colonial and post-independence periods. It shows that the two most important requirements of modernization are: first, an external condition related to the crucial role that global and regional powers play in promoting or hampering the developing country’s efforts to modernize. The second is an internal one showing that a strong government is usually more efficient in carrying out successful economic policies than a soft one. This is especially true during the early stages of industrialization.

Keywords:

Great powers politics, British/Japanese colonial policies, Strong/soft government, Efficient bureaucracy, Quality of factors of production, General Park, Colonel Nasser, Inculcation of modern values

Acknowledgments

I am grateful to Senator Adlai Stevenson and Professor George Tolley for stimulating discussions and support. I received valuable comments from the late Professor Roland Coase and Professors Hiroshi Kato, Jisoon Lee, Eiji Nagasawa, Yoshihisa Godo, Hak K. Pyo, Yoshinori Shimizu and Mohamed Askar. Dr. Woosik Lee made useful suggestions. Special thanks are due to two anonymous referees for constructive criticism. The views expressed here are solely those of the author and do not in any way represent the views of the others. The usual caveat applies.

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