Profit Rates, Capital Accumulation, Business Cycles - Korean Economy -
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In this paper, I provide a selection of central macroeconomic data for the Korean economy, among which the profit rate is a key variable to explain the state of economic affairs before the Covid-19 pandemic. Capital accumulation in the Korean economy had been driven by strong financial support based on the country’s selected developmental strategy. However, stagnation in domestic investment over the past 20 years has meant the disintegration of the previous developmental regime, which refers to the neoliberal turn of the country’s economy. On the other hand, this transition has led to a dramatic increase in overseas investment such as FDI.
Abstract
In this paper, I provide a selection of central macroeconomic data for the Korean economy, among which the profit rate is a key variable to explain the state of economic affairs before the Covid-19 pandemic. Capital accumulation in the Korean economy had been driven by strong financial support based on the country’s selected developmental strategy. However, stagnation in domestic investment over the past 20 years has meant the disintegration of the previous developmental regime, which refers to the neoliberal turn of the country’s economy. On the other hand, this transition has led to a dramatic increase in overseas investment such as FDI.
참고문헌 (13)
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