New PDF release: Iconoclasm: Papers given at the ninth Spring Symposium of

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By Bryer, A., Herrin, J.

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Extra resources for Iconoclasm: Papers given at the ninth Spring Symposium of Byzantine Studies, University of Birmingham, March 1975

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However, the fall in raw material prices in the late 1970s and early 1980s, at the same time as interest rates rose sharply, resulted in the debt crisis as countries were unable to repay their debts. This led to the so-called ‘‘lost decade’’ of the 1980s as the Latin American economies failed to grow during this period. Africa was also much affected by the debt crisis. ’’ Furthermore, Latin America had squandered much of these millions (or rather billions) of dollars it had borrowed as a considerable part of it went to finance imports of consumer goods for the upper-income groups.

In some cases landlords even managed to reverse the peasants’ gains via counter-reforms. 13 Agrarian transformation and industrialization in Asia In this section I will examine the characteristics of South Korea’s and Taiwan’s agrarian transformations and, in particular, the contribution which agriculture and the agrarian reforms made to their remarkable industrialization process. I will then, in the next section, undertake a comparative study between the Asian cases and Latin America. Agrarian reform and development in South Korea Korea was a Japanese colony from 1910 to 1945 and South Korea gained its independence in 1948.

The net agricultural surplus is equal to the above less what the agricultural sector purchases from other sectors, such as industrial consumer and investment goods as well as services. Once an industrial sector has established itself it can generate the necessary surplus for investment from within the sector and the need to extract an agricultural surplus becomes less urgent. At later stages of economic development the flow is often in the opposite direction, with an industrial surplus helping to finance agriculture.

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