This study tries to compare the modernization of Republican Turkey and South Korea. It should be considered on two important points about the history of modernization of Republican Turkey. The first of these is mental...This study tries to compare the modernization of Republican Turkey and South Korea. It should be considered on two important points about the history of modernization of Republican Turkey. The first of these is mentalities and ideological attitudes of modernizing elites. The emphasis to be made is to actually point to an opposition： Republican bureaucracy, in other words, the Kemalist elites, believed that progress in the sense understood by the French revolutionaries, positivist ideas, and secular point of view, on the other hand refused to tradition, namely Ottoman-lslamic past/background. Secondly, the Kemalist bureaucracy followed a specific application of the statist economic strategy. The state on the one hand has made investments using its own resources on heavy industry, established monopoly on certain products, on the other hand has followed liberal policies in order to create a national bourgeoisie. In addition, it cannot resolve/transform land ownership regime in favor of landless peasants. The turning point in the economic development of Korea was the military government of Park Chong Hee. The main policy during the 20 years of government was self-sufficient national economy. A presidential central industrial planning board （EPC） was responsible for the planning of all new investment areas and provided policy coordination among related ministries. Government could control the allocation of all financial resources through nationalized commercial banks. Economic planning by government included resource allocation, setting export targets for big family holdings, selective support of strategic industries, and successful private companies. So, government played an important role in the accumulation of capital in the hands of selected loyal new bourgeoisie class, big family holdings （chaebols）, which helped the succession of national development projects. The government used nationalism and moderated Confucius values as a means of creating developmental spirit. Anti-industrial teachings in Confucianism has been changed by Western values to form a new development-oriented work ethics, but core teachings like paternalism, hierarchical order in groups, emphasis on education, harmony, collectivism were strengthened by national education. Government policies and modified cultural elements caused an able and willing labor force and committed nation for overcoming poverty, strengthening Korea＇s economic position in the region.展开更多
From the perspective of financial distortoin and using the statistics China＇s industrial enterprises between 1999 and 2007,this paper examines the relationship between corporate ownership and ROIC （return on investe...From the perspective of financial distortoin and using the statistics China＇s industrial enterprises between 1999 and 2007,this paper examines the relationship between corporate ownership and ROIC （return on invested capital）.Our empirical results suggest that SOEs have a for lower ROIC average compared to enterprises of the forms of ownership,and that private enterprises have the highest ROIC.In addition,this paper＇s numerical simulation results indicate that if financial distortion is eliminated,so that more financial resources can be redirected to private enterprises with a higher ROIC,China＇s GDP growth could be increased by 2 to 8 per cent over the current level.展开更多
文摘This study tries to compare the modernization of Republican Turkey and South Korea. It should be considered on two important points about the history of modernization of Republican Turkey. The first of these is mentalities and ideological attitudes of modernizing elites. The emphasis to be made is to actually point to an opposition： Republican bureaucracy, in other words, the Kemalist elites, believed that progress in the sense understood by the French revolutionaries, positivist ideas, and secular point of view, on the other hand refused to tradition, namely Ottoman-lslamic past/background. Secondly, the Kemalist bureaucracy followed a specific application of the statist economic strategy. The state on the one hand has made investments using its own resources on heavy industry, established monopoly on certain products, on the other hand has followed liberal policies in order to create a national bourgeoisie. In addition, it cannot resolve/transform land ownership regime in favor of landless peasants. The turning point in the economic development of Korea was the military government of Park Chong Hee. The main policy during the 20 years of government was self-sufficient national economy. A presidential central industrial planning board （EPC） was responsible for the planning of all new investment areas and provided policy coordination among related ministries. Government could control the allocation of all financial resources through nationalized commercial banks. Economic planning by government included resource allocation, setting export targets for big family holdings, selective support of strategic industries, and successful private companies. So, government played an important role in the accumulation of capital in the hands of selected loyal new bourgeoisie class, big family holdings （chaebols）, which helped the succession of national development projects. The government used nationalism and moderated Confucius values as a means of creating developmental spirit. Anti-industrial teachings in Confucianism has been changed by Western values to form a new development-oriented work ethics, but core teachings like paternalism, hierarchical order in groups, emphasis on education, harmony, collectivism were strengthened by national education. Government policies and modified cultural elements caused an able and willing labor force and committed nation for overcoming poverty, strengthening Korea＇s economic position in the region.
文摘From the perspective of financial distortoin and using the statistics China＇s industrial enterprises between 1999 and 2007,this paper examines the relationship between corporate ownership and ROIC （return on invested capital）.Our empirical results suggest that SOEs have a for lower ROIC average compared to enterprises of the forms of ownership,and that private enterprises have the highest ROIC.In addition,this paper＇s numerical simulation results indicate that if financial distortion is eliminated,so that more financial resources can be redirected to private enterprises with a higher ROIC,China＇s GDP growth could be increased by 2 to 8 per cent over the current level.
