7 The Role of the Government in Promoting Industrialization and Human Capital Accumulation in Korea Joon-Kyung Kim, Sang Dal Shim, and Jun-I1 Kim 7.1 Introduction Korea’s economic growth performance in the past 30 years has been cited as an exemplary model of rapid economic development and has been termed an “economic miracle.” We should use alternatives method of industrialization for the purpose of growth and development of our country. Pakistan being a developing country also wants to achieve higher standard of living for its masses. Agricultural sector plays a strategic role in the process of economic development of a country. Given the present environment of global competition, the private sector is playing an important role in the industrialization of the country. Terms such as “developed”, “industrialized” and “developing” are intended for statistical convenience and do not necessarily express a judgment. Development activity is not a mechanical process. A frontier challenge for development strategy is to move beyond prescribing optimal economic policies, and instead -- taking a broad view of the interactions between economic, political and social constraints and dynamics -- to identify entry points capable of breaking a low-growth logjam, and initiating a virtuous spiral of cumulative change. The role of S&T policy in industrialization and its impact on the economy is discussed1. The country built up its military strength and became a world power. The priority areas that have been identified are: - Development of electronics, information, and communication technologies. Development of such industries can provide part-time occupation to the people engage in agriculture and a whole- time job to the village artisans and craftsmen. This ensures a balanced development throughout the country and this will mitigate political or any other kind of disturbances in the country. It is a known fact that more than seventy-five per cent of India’s population lives in villages and nearly seventy per cent of country’s work force are directly engaged in agriculture. Industrialization is an outgrowth of capitalism, and its effects on society are still undetermined to some extent; however, it has resulted in … In the economic study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.. The mobilization of resources by state planning expanded the country's industrial base. SMEs are becoming more and more a subject of high attention in the developing countries, countries in transition but also in the countries with developed economies. THE ROLE OF CAPITAL MARKET IN THE INDUSTRIALIZATION OF A COUNTRY ( CASE STUDY OF NIGERIA ) CHAPTER ONE The capital market is the market for dealings,( that is lending and borrowing ) In long –term loan able fund. Industrialization in China* We see industrialization in China the last 150 years as an ongoing process through which firms acquired and deepened manufacturing capabilities. A. Entrepreneurship plays a very important role in the economic development. In India, agriculture is traditional and backward. If in some country level of consciousness is low and the general mass of people has accepted poverty as its fate, then there will be little hope for development. Modernisation of Industry: Industrial development is necessary for modernisation of agriculture. Industrialization brings structural changes in the pattern of foreign trade of the country. It has already made a significant contribution to the economic prosperity of advanced countries and its role in the economic development of less developed countries is of vital importance. We need tractors, threshers, pump sets and harvesters to modernise … Cottage industry is a good alternative which causes very less pollution and also provide employment to large number of people than industries. However, that definition has changed over the generations with industry covering a much wider range of activities. INDUSTRIALIZATION IN LESS DEVELOPED COUNTRIES. After mercantilism was ended by the British in the 1840s, British North Americans began to engage in activities that led to early industrialization. This process has not been uniformly introduced in all countries, nor has it occurred at the same time or at the same rate. Any indication of, or reference to, a country, institution or other legal It is based on a national survey where 173 cooperatives and 831 cooperatives members were taken as a sample and Focused Group Discussions (FGDs) at eight different regions of the country were considered. On the other hand The processing of raw material at home curtails the import of goods and thereby helps in conserving foreign exchange. By providing a market to these other sectors, industries facilities the development of the country. In the West, frontier life was ending. Britain was the first country to experience this phase of industrialization, an experience that began later in Western Europe, the United States and Japan. Through the financial system, backward areas could be developed by providing various concessions or sops. It is not surprising, there fore, that governments have played an active role in promoting industrialization. The role of S&T is to lead national development and to support socio-economic needs. All over the world, there is growing evidence that SMEs play an important role in the national economic development of any country. Answer (1 of 4): Industry is the key element in the economic development of any country or region. The Industrial Revolution, which took place from the 18th to 19th centuries, was a period during which predominantly agrarian, rural societies in Europe and America became industrial and urban. At the same time, industrial workers buy consumer goods from other sectors. Practically all societies at early stages of their development have viewed industrialization as the main vehicle for improving living standards. Industrialization, the process of converting to a socioeconomic order in which industry is dominant. It helps in increasing the export of manufactured goods and thus earns foreign exchange. 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