International Journal of Political Science and Development
 

International Journal of Political Science and Development

Vol. 3(3), pp. 138–151, March, 2015.  

DOI: 10.14662/IJPSD2015.021

ISSN: 2360-784X

Research Paper

The economic and social transformations of South Korea since 1960 are one of the biggest success stories in the history of development. In just a few decades, South Korea transformed itself from an agricultural society to an industrialized nation exporting high-technology products within the same time gap, it could dramatically and successfully transformed itself from aid effectiveness to development effectiveness. Though, just like many developing countries, authoritarian rule was a norm in Korea, more than two decades of authoritarian rule South Korea changed relatively peacefully to a democratic society in 1987.In the face economic stagnation and enormous development problems: Poverty, inequality, a low life expectancy, illiteracy, and poor service delivery, Ethiopia is trying its best to transform itself to standard in which its citizens in every stage will be beneficiary. It can get valuable insights for its journey towards sustainable development. Accordingly, Ethiopia needs to take lesson in the specific areas in which Korea has been used. Among others, investment in infrastructure, building human capability, technology transfer, Export orientation, tax policy and administration, technology financing, industrial policy, foreign direct investment and others are the directions in which Ethiopia can take ultimate advantage.

Key Words: Social, Economic transformation, Economic Development, Lessons, Korea, Developing Countries, Ethiopia

 

Cite This Article As: Yimer M (2015). Economic and Social Transformations of Korea; Lessons for Developing Countries With a particular Relevance to Ethiopia. Inter. J. Polit. Sci. Develop. 3(3): 138-151

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