The Comparison of Trade Policies and Patterns between Japan and Korea

Abstract

During the period of rapid growth (1955-73), Japan's industries

entered into the new stage of development, while trade

structure reflected the enhanced structural pattern and made a

successful achievement of technology imports or innovations.

Such a rapid advancement was made possible by facility investments,

technological enhancement, extension into new markets,

and development of new products. The stabilization of price and

efficient allocation of resources, which contributed to the eradication

of economic inefficiency, may be prime factors which

deserve credit for such superb economic performance.