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This book examines the spectacularly successful economies of East Asia, Japan and South Korea. The comparison of the 'catching-up' process in Japan and South Korea includes studies of the iron and steel and semi-conductor industries. The author shows the difficulties involved in trying to detect general patterns of development, as both countries appear to respond to different technological imperatives. As a result general models of development should be treated with caution, given the need to consider different historical and institutional contexts.Is late industrialization an advantage? This book examines the case of South Korea and compares it with the experiences of Germany at the turn of the century and Japan this century.Introduction; Part 1 On Methodology; Chapter 1 Late Industrialisation and Catching-Up; Chapter 2 Technology Transfer, Technological Capability and National Systems of Innovation; Chapter 3 Institutions, Institutional Change and Catching-Up; Part 2 On Interpreting History; Chapter 4 Comparative Settings; Chapter 5 Regional Contrast in the Development of the Iron and Steel Industry in Germany, 18001850; Chapter 6 UKGermanyJapan Comparison in the Iron and Steel Industry, 18501930; Chapter 7 USAJapanKorea Comparison in the Iron and Steel Industry, 19501990; Chapter 8 USAJapanKorea Comparison in the Semiconductor Industry, 19501993; Conclusions;Jang-Sup Shin is currently working as a journalist for the Maeil Business Newspaper and TV in Seoul. He received his M.Phil. and Ph.D. from Cambridge University.US? 1996 Jang-Sup Shin