A) ACCUMULATING HUMAN AND PHYSICAL CAPITAL
Combination of policies to achieve rapid physical & human capital
1) Building Human Capital: Education (ed.) investment in universal primary education, quality of schooling improved.
2) Education spending per child increased (as fertility rates fell) although expenditure as a % of GNP remained constant
3) Low inequality of Y & Education led to educational expansion
4) Public spending concentrated on primary & secondary levels
5) Demand for tertiary education absorbed self-financing private system
6) At post-secondary level focus on scientific & technological ed. & engineering. Education through self-financed private system.