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15 October, 08:50

According to the Chapter 9 lecture, where has Industrial Policy been successful?

A. Peru

B. South Korea

C. France

D. South Africa

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Answers (1)
  1. 15 October, 09:11
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    B) South Korea

    Explanation:

    Even without reading Chapter 9, it is easy to answer the question, South Korea is one of the most successful examples of government sponsored industrial policy. Before the Korean war both Koreas were extremely poor nations, among the poorest in the world. After the war the new government of South Korea sponsored an industrial policy which turned the country into a developed nation with a strong GDP per capita, widespread access to higher education and quality health care, high life expectancy and low infant mortality rate.
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