Economic growth in Korea Edit
In 1977, KDI invited Dr. Edward Denison of the Brookings Institution as an adviser for a study on analyzing the factors behind Korea’s growth. The research findings were published in The Sources of Economic Growth in Korea in 1979 which was co-authored by Dr. Kim Kwang-suk and Park Joon-kyung. The study applied growth accounting methodology to assess Korea’s economic growth. It was widely acclaimed both in Korea and the international community by scholars and policymakers for its rigorous analysis and implications. The study was translated in various languages including Chinese. Even though Korea did not have formal diplomatic relations with the People's Republic of China at the time, it became a useful reference for Chinese policymakers who sought to learn about, and draw lessons from, Korea's economic growth. This seminal work was followed by rigorous growth accounting exercises in subsequent decades.