韓國과 中國의 經濟發展에 관한 比較硏究

A Comparative Study of Economic Development between Korea and China

The "miracle" of Korean economic development is well-known. Moreover, a seemingly more miraculous economic development is also found in China since she adopted the so-called "Open Door" policy in the late 1970s. The economic development of China in the past 15 years or so, which has been made possible by introducing capitalistic market elements in a country where a socialistic market system had been firmly rooted, is not just a success of the Reform. Rather, it is a historical event. With this background in mind, this paper first examines some elements which made economic growth successful for both of these countries. Particularly, the physical and human capital formation in the supply side and the export expansion in the demand side among these elements are carefully compared and contrasted. Then, the following six undesirable features which have resulted in the process or as a result of economic growth in these countries are analyzed : 1) High inflation ; 2) Income gap between urban and rural areas, and regional development gap ; 3) Business size gap and Privatization ; 4) Relative backwardness of the monetary sector ; 5) Policy inflexibility and centralization of power ; and 6) Environmental pollution. Having investigated these, the implications of Korean economic development for China are finally explored, for internal and external economic environments facing China are different from those of Korea, in terms of both time and space. The paper concludes that the prospects for further growth for both Korea and China seem promising, in consideration with the fact that these economies were able to overcome the immense difficulties experienced so far.