Understanding Korea’s Saemaul Undong: Theory, Evidence, and Implication

I. Introduction

II. N ew Theory of Economic Development: A Framework for Discussion

III. History of SMU

IV. Theory of the SMU Success

V. Loss of the SMU Spirit due to Egalitarianism

VI. E mpirical Analysis of the Effect of SMU on Economic Growth

VII. Implications of SMU on Economic Development Policy

VIII. Summary and Concluding Remarks

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