Post <blockquote><blockquote>The protectionism explanation is weak. Pretty much every 3rd world country did the same and most of them didn't have any success. See Latin America, for example. </blockquote> Are we really going to resolve this debate with the forum equivalent of a cross-country growth regression? I see your S. Korea and raise you Latin America and Africa! There is a pretty extensive literature on this. Depending on who you believe, the Koreans engaged in a lot of industrial policy, but they did it right--companies were cut off if they didn't export, etc. The planning ministries weren't allowed to be the source of political patronage. That's a pretty big difference between Latin America and Africa and the Asian Tigers.</blockquote>

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