The restructuring of old industrial areas in East Asia
Abstract
The shift of manufacturing industry from Japan, the first industrializing nation in East Asia, to neighbouring South Korea and China saw the emergence of restructuring problems and policies in traditional industries and regional economies depending on them. Based on a literature review on this topic in East Asia, this paper draws three conclusions. First, the resource endowments of the three countries differ greatly and consequently also the magnitude of restructuring problems. Second,...