|
|
|
|
Title: |
Engine of Export-Oriented Catching-Up: Small Farms versus Big
Conglomerates |
| Author: |
Hong, Wontack |
| Author
Affiliation: |
Seoul U |
| Source: |
International Economic Journal, Summer 2000, v. 14, no. 2, pp. 161-179 |
|
Publication Date: |
Summer 2000 |
|
Abstract: |
Big conglomerates dominate the Korean
economy as do small firms the Taiwan economy. I characterize Korea as a
relatively low-trust society with a pro-chaebol policy bias, and Taiwan
as a relatively high-trust society with an anti-big-conglomerate policy
bias. I contend that the differences between Korea and Taiwan in size
structure of firms reflect the divergent responses of entrepreneurs to
different, "semi-permanent" socio-political conditions that determine
the costs of market transactions among firms. It may be desirable to
change the size structure of firms, but I maintain that the possibility
of actual change in the size structure is rather limited. |
|
