KoreasTradePolicyPast,Present,andFutureProspects.pptVIP

Professor Yoon Heo (GSIS, Sogang University) ;;;;;Development Strategy in Korea: Lessons and Implications for Developing Countries ;Contents; Policy Changes in Korea ;Import Substitution Policy, 1953-1961;Strategy 1. Target - non-durable consumer goods and their materials (flour, sugar, textile) 2. Key tools - High tariffs/quota restrictions - Prior approvals for imports - Multiple exchange rate system with overvalued foreign exchange rates - Regulated financial market with low interest policy ;Performance -