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Yong-Shik Lee, "Law and Development: Theory and Practice, 2nd edition" (Routledge, 2021)

New Books in Economics

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The Law-Development Paradigm: South Korea's Journey

This chapter explores the transformative role of law and institutions in South Korea's development from poverty to industrial power. It contrasts Korea's successful implementation of targeted legal frameworks with the failures of other nations, emphasizing the need for adaptive approaches to development. The discussion also highlights the complexities of regulatory mechanisms and the importance of aligning laws with socioeconomic realities for effective outcomes.

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