14951. Brain Drain and Economic Development in the Context of U.S.-Korea Alliance
- Author:
- Sunwoong Kim and Ju-Ho Lee
- Publication Date:
- 03-2003
- Content Type:
- Journal Article
- Journal:
- International Journal of Korean Studies
- Institution:
- International Council on Korean Studies
- Abstract:
- Most people would acknowledge that the military and economic alliance between the U.S. and South Korea (Korea hereafter) has played a very important role in shaping the modern history in Korea. Among other things, many have pointed out that Korea's savings in military spending in order to deal with the North Korean threat since the Korean War is one of the major benefits of the strong alliance, because the savings that should have been diverted to military expense could be invested for improved economic development. Also, under this security arrangement, Korea has successfully implemented the strategy of export-as-anengine- for-economic-growth by borrowing heavily from the international financial market. Without the U.S.'s security guarantee, international borrowing would have been much more costly. Another important aspect of the strong alliance is that the U.S. has been the major market for Korean exports for several decades.
- Political Geography:
- United States, South Korea, North Korea, and Korea