Resource title

Catching-Up, Crisis and Industrial Upgrading. - Evolutionary Aspects of Technological Learning in Korea's Electronics Industry

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This paper addresses a puzzle: How is it possible that a country that has establisheda broad, export-oriented industrial base at record speed, remains vulnerable to thevicissitudes of international finance and currency markets? I argue that the Koreanmodel that was tremendously successful for catching-up, has now reached its limits.The analysis centers on the co-evolution of industry structure and firm behavior. Thefocus is on the role of technological learning for the development of the electronicsindustry, a main carrier of Korea´s successful late industrialization. It is shown thata heavy reliance on credit and an extremely unbalanced industry structure havegiven rise to a narrow knowledge base and a sticky pattern of specialization.Catching-up has focused on capacity and international market share expansion forhomogeneous, mass-produced products; very little upgrading has occurred intohigher-end and rapidly growing market segments for differentiated products andservices. Such truncated upgrading is one important reason for Korea´svulnerability to the financial and currency crisis.

Resource author

Dieter Ernst

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Resource language

eng

Resource content type

application/pdf

Resource resource URL

http://hdl.handle.net/10398/8101

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