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This paper analyzes the Republic of Korea's rapid and sustained growth experience for the past six decades from the perspective of the neoclassical growth model (the workhorse model of the World Bank’s Long Term Growth Model (LTGM) project). Overall, the sources of Korea's growth were balanced among labor market and demographic factors, capital investment, human capital accumulation, and productivity growth. However, the main engine of growth evolved...
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Jeong,Hyeok.

Korea's growth experience and long-term growth model (English). Policy Research working paper|no. WPS 8240 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/721471510252769303

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