The South Korean Government in the 1970s decided to follow a strategy of increased investment in human capital and infrastructure in order to promote export-led growth. They thus undertook a set of...

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Extracted text: The South Korean Government in the 1970s decided to follow a strategy of increased investment in human capital and infrastructure in order to promote export-led growth. They thus undertook a set of policy interventions to reduce the amount of resources going into consumption and increases the resources used for investment. Assuming that the South Korean economy in the 1970s was at full employment and all resources were used efficiently, the appropriate way to describe this policy is that the government's strategy initially moved the economy from to


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