Korean Expansion and Decline from the Seventeenth to the Nineteenth Century
A View Suggested by Adam Smith
Bibliographic Data
| ID | 10104475 |
|---|---|
| Authors | Jun Seong Ho (Academy of Korean Studies, corresponding author), James B Lewis (Czech Academy of Sciences, Oriental Institute), Kang Han-Rog (Czech Academy of Sciences, Oriental Institute) |
| Year | 2008 |
| Volume | 68 |
| Issue | 1 |
| Pages | 244-282 |
| Publication date | 2008-02-28 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic History (JOURNAL) |
| Journal identifiers | ISSN: 0022-0507 • E-ISSN: 1471-6372 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s0022050708000089 |
| OpenAlex | W2039241736 |
| Language | EN |
| Citations received | 9 |
| References cited | 46 |
The first price runs for Korean rice help us develop a Smithian physiocratic model to explain the low, stable prices of the eighteenth century and the rising, volatile prices of the nineteenth. Ownership rights provided incentives, and productivity after 1600 exceeded subsistence to achieve rural commercialization. Infrastructure investment from the late seventeenth century promoted development and prosperity, but declining investment, dysfunctional institutions, bad weather, and a population crash pushed the economy towards subsistence in the nineteenth. Decline saw rice monoculture, inflation, and price volatility even before imperialism's impact. Parallels with China suggest an “East Asian” premodern agricultural model
Agriculture · China · Economic growth · Economic history · Economics · Economy · Geography · Incentive · Investment (military · Market economy · Political science · Politics · Prosperity · Subsistence agriculture · Historical Economic and Social Studies
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Adam Smith and Asia
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,53 |
| Citation span | 2009 - 2024 (16) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 9 |