Südkoreas Weg vom Wirtschaftswunder zur Wirtschaftskrise - Kann der wirtschaftliche Aufholprozess forgesetzt werden?

Abstract Until the outbreak of the crisis in 1997 the economic development of South Korea was respectable. The term "economic miracle" was characteristic of the appreciation South Korea earned. However, the literature does not give a uniform explanation for the development of South Korea from the economic miracle to the economic crisis. Often the crisis is reduced to the financial or currency aspects. In this paper the position is taken that the crisis originated in the growth and development model which is also the reason for the various estimations regarding the future development of South Korea. It leads to the question: Can the process of catching up be sustained?