2. “Old” neoclassical growth theory
: An optimistic scenario
Solow 의 입장을 통해서 본 신고전적 성장이론
생산성은 축적된 자본의 양이 결정
자본 성장에 따른 생산성 증가는 감소하는 경향을 갖음
1인당 GDP의 증가를 위해서는 ‘기술적 진보’ 필요
‘기술적 진보’는 자동으로 이루어지는 특성을 갖음
공공
Not linear curve, but non-linear curve
No causal relations between economic growth and democracy
Timing of industrialization
Growing side by side(economic growth, democracy) is extremely scarce case except for developed countries.
Authoritarian systems keep more stable, and economic growth.
development in the financial sector and capital markets.
3.External Debt Management in Korea
1)History of external debt management in Korea
Ⅰ. 1960-70: Korea has a reputation for being one of the fastest developing countries in the world, experiencing rapid growth since 1963. Real GNP grew at an average annual rate of 9.0 percent between 1963-93. As a result, Korea's status changed fr
countries did not choose free trade for more than brief periods.
They argued that there is only one way to survive the historic tidal force that is globalization, and that is to put on the one-size-fits-all Golden Straitjacket. There is no alternative.
The rich countries
They force developing countries to accept neo-liberalism in order to take their own profit from them
Pr
developed countries including the United States, which are major stakeholders of the IMF.
Another issue with the IMF’s politics is that the exercise of voting power or the core functions such as crisis solution, exchange rate management and financial policy coordination within the IMF have been designed to perpetuate the dominance of a few industrial countries, specifically the USA and the Eu