Evaluate on the effectiveness of industrialization policies (of any country of your choice) in reducing income disparity.
Essay Topic : Evaluate on the effectiveness of industrialization policies (of any country of your choice) in reducing income disparity.
Industrial policy is a kind of government-sponsored economic program and strategic plan to encourage the development and growth of the manufacturing sector of the economy. It means rules, regulations, principles, policies and procedures laid down by government for regulating, developing, and controlling industrial undertakings in the country. It also indicates the role of the large, medium and small scale sector. Under industrial policy, government normally will provide various type of support like financial support or tax credits to those corporation under industrial policy to increase the company effectiveness of production or performances, in order to achieve a faster economic growth and to reduce income disparity . Besides that infrastructure like transportation, telecommunications and energy industry are usually play in an important role in a industrial policy, so government had to put more concentration on those infrastructure building. On the other hand, industrial policy will also help to emphasize the cooperation between government, banks, employees and also private company.
In this assignment, I take South Korea as an example for the effectiveness of industrialization policies in reducing income disparity. First at all, I will briefly introduce the background of this country. South Korea is a sovereign state in the southern part of the Korea Peninsula with 50 million of population and about US$23,680 of GDP per capital. After World War 2,the nation was divide into North Korea and South Korea and having civil war after from 1950 to 1953. When the war over, South Korea was suffer with high inflation and also high unemployment rate . Many of the infrastructure of South Korea like school, railway station and telecommunication was destroyed. So after the few years of the war , South Korea economic was only focus on
Industrial policy is a kind of government-sponsored economic program and strategic plan to encourage the development and growth of the manufacturing sector of the economy. It means rules, regulations, principles, policies and procedures laid down by government for regulating, developing, and controlling industrial undertakings in the country. It also indicates the role of the large, medium and small scale sector. Under industrial policy, government normally will provide various type of support like financial support or tax credits to those corporation under industrial policy to increase the company effectiveness of production or performances, in order to achieve a faster economic growth and to reduce income disparity . Besides that infrastructure like transportation, telecommunications and energy industry are usually play in an important role in a industrial policy, so government had to put more concentration on those infrastructure building. On the other hand, industrial policy will also help to emphasize the cooperation between government, banks, employees and also private company.
In this assignment, I take South Korea as an example for the effectiveness of industrialization policies in reducing income disparity. First at all, I will briefly introduce the background of this country. South Korea is a sovereign state in the southern part of the Korea Peninsula with 50 million of population and about US$23,680 of GDP per capital. After World War 2,the nation was divide into North Korea and South Korea and having civil war after from 1950 to 1953. When the war over, South Korea was suffer with high inflation and also high unemployment rate . Many of the infrastructure of South Korea like school, railway station and telecommunication was destroyed. So after the few years of the war , South Korea economic was only focus on