Property Rights and Elites

An elite derives its status from its relationship to property, whether physical or human capital. While stable property rights are necessary for everyday business, unstable property rights that result in major institutional changes (such as land reform) may have a positive impact on economic development. When are the ‘wrong’ property rights right? Institutional changes have a positive impact on economic development when a country’s elite can manage them. To support this generalization we examine the managerial capacity associated with elite status, highlighting which capabilities enable them to control changes in property rights regimes to their individual and national advantage. We compare how nationalization of foreign firms, a radical change in property rights, was managed in Argentina, China, Korea and Taiwan after the Second World War.Elites, property rights, indigensim, capabilities, role models

National companies or foreign affiliates: Whose contribution to growth is greater?

National firms fulfill functions that foreign affiliates are less likely to undertake. For this reason, there is a growth/efficiency justification for government programs designed to support and promote national companies (public and private) as opposed to, and in competition with, opening the doors to MNEs

South Korea's labor market in the context of early and late industrialization

"Fall, 1988."Series from publisher's informationIncludes bibliographical reference

The optimal degree of competition and dynamic efficiency in Japan and Korea

Abstract This paper is concerned with the neglected role of competition policy in East Asian development. Michael Porter considers Japan's development to have benefitted from intense competition among firms. By contrast, Caves and Uekusa criticize MITI's role in creating recession cartels and entry barriers, which are thought to have resulted in allocative inefficiency. This paper argues that competition policy in both Japan and Korea was oriented towards creating dynamic efficiency (the highest long term productivity growth rate). It did so by measures, operating at both the industry and firm level, which sometimes restricted competition and sometimes encouraged it

Learning to be lean in an emerging economy

노트 : Prepared for IMVP Sponsors Meeting, Toronto, Canada June 199

Learning to be Lean in an Emerging Economy: The Case of South Korea

First draftBalance of payments considerations have driven the automobile industry strategies of many late-industrializing countries such as Thailand, Mexico, and Malaysia. These countries do not intend to become leading suppliers in the world automobile industry but rather, have designed (if only by default) their assembly and parts operations with a view towards protecting their balance of payments. Because an automobile is a high-value import, and because demand for automobiles rises steeply as per capita income rises, free importation of automobiles often hurts a young economy's balance of payments. Therefore, virtually all lateindustrializing countries have some intention of developing a production capability in autos in order to protect the supply of and demand for foreign exchange

国内企业或外国子公司：谁对发展的贡献更大？

国内企业所履行的职责是外国子公司所不能完成的。出于这个原因，政府越来越多的支持和促进国内公司（公共的和私人的）的发展，而不是对跨国公司开放大门，增加其与国内企业的竞争