South Korea’s Economic Growth Holds Steady

People walk on a shopping street in Seoul, South Korea, July 10, 2014 (AP photo by Ahn Young-joon).
People walk on a shopping street in Seoul, South Korea, July 10, 2014 (AP photo by Ahn Young-joon).
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Last month South Korea unveiled a $40 billion economic stimulus package designed to boost a lagging growth rate. In an email interview, Dwight Perkins, professor emeritus of political economy at the Harvard Kennedy School of Government, discussed the state of South Korea’s economy. WPR: What are the main factors behind South Korea’s recent economic slowdown? Dwight Perkins: South Korea’s growth averaged 3 percent between 2011-2013. That rate of growth is slightly below South Korea’s average growth rate over the past nine years, but that is hardly surprising given the weaknesses in European and North American economic performance. We do not […]

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