ABSTRACT
This introduction presents an overview of key concepts discussed in the subsequent chapters of this book. The book focuses on an analysis of the evolutionary process of institutions by exploring the interplay of internal factors, particularly the role of government and external factors, and the influence of Japan in the process of Korean economic development. It explores government-business relationships, which have played a crucial role in the process of Korean economic development. The combination of government and chaebol has been a determining factor in the Korean economic system. The book explores the influence of Japanese capital, Japanese direct investment, technology and trade networks along with the role of the Korean government. Capital and technology explain the ability of the Korean economy to increase output, improve productivity and to upgrade the entire economy one step further. The book assesses whether or not the evolutionary process of institutions, composed of internal and external factors, leads to economic development.
