Ample human capital, huge foreign
aid and privileged access to the US and Japanese markets made the South Korean and
Taiwanese miracle possible. In reality, the East Asian NIEs (South Korea and Taiwan)
appear not to have landed classes or landlords. Who were effectively destroyed in the colonial
period by the Japanese empire (see Kohli, 1994). International factors partly contributed to
the high relative autonomy of the state in the East Asian NIEs to the extent that the states are
able to control financial system, particularly in South Korea, in which the state has power to
manipulate the banking systems that is an essential factor in the relatively backward country’s
catching up with the west (the key factor of success in Gerschenkron’s typology).