| ID | 126266 |
| Title Proper | South Korea |
| Other Title Information | the backwater that boomed |
| Language | ENG |
| Author | Noland, Marcus |
| Publication | 2014. |
| Summary / Abstract (Note) | South Korea's development over the last half century has been nothing short of spectacular. Fifty years ago, the country was poorer than Bolivia and Mozambique; today, it is richer than New Zealand and Spain, with a per capita income of almost $23,000. For 50 years, South Korea's economy has grown by an average of seven percent annually, contracting in only two of those years. In 1996, South Korea joined the Organization for Economic Cooperation and Development, the club of rich industrialized countries, and in 2010, it became the first Asian country and the first non-G-7 member to host a G-20 summit. |
| `In' analytical Note | Foreign Affairs Vol. 93, No.1; Jan-Feb 2014: p.17-22 |
| Journal Source | Foreign Affairs Vol. 93, No.1; Jan-Feb 2014: p.17-22 |
| Key Words | South Korea ; Per Capita Income ; Economy ; OECD ; G20 ; Economic Reforms ; Modern Capitalism |