Innovation, Economic Development, Political Economy and High Tech Growth

In other to analyze the trajectories of economic development and policy in Korea, one may need to understand how they have been intertwined with the realities of Korean political economy. Furthermore, the trajectory of technology development and the concepts of innovation and entrepreneurship may need to be examined in this overall context as well.

Many have pointed out that the 1997 Asian financial crisis was a blessing in disguise. And yet, Korean has not corrected the root causes of the crisis to a large extent. In other words, structural weaknesses and other fundamentals have not changed all that much. Economic transformation is to be accompanied by social transformation including strengthening of social capital.

To understand the current economic contraction Korea (not just Korea, of course) is facing and come up with ways to get things on a better path entails a broader understanding of the complex issues.