Abstract
The mystery of the newly industrialized countries (NICs)s success, including Korea’s take-off, can be addressed by using the concept of a property representation system, as initiated by de Soto (2000). This property representation system, which has been further described as the mystery of capital formation, was supposedly established in Korea during the Japanese colonialization of 1910-1945. The Korean industrialization in this period has been well described by the ‘developmental state’ approach, but the property representation system can reveal the key role of property rights as an institution in the economic take-off, focusing on its incentive function.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
