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This book, an outcome of a study, conducted under Indo-Dutch Programme on Alternatives in Development, jointly sponsored by the Institute for Social Studies, the Hague, and the Indian Council of Social Science Research, New Delhi, examines the growth and structural transformation in the Republic of Korea and India in 1950s in a comparative and historical perspective, both at the macro and micro levels. Analysing the factors responsible for differential growth and transformation in the two countries, it assesses the role of rural institutions in rural transformation. Taking a close look at the changes in the economy and life of rural households, it also studies the small farm rice economy in Korea and Coastal Andhra Pradesh. The book is useful for policy makers, researchers and development institutions. About the Author R.M. Mohan Rao (b. 1941) retired in July 2001 after serving Andhra University for about three and half decades in various capacities in the Department of Cooperation and Applied Economics. Rao secured first class first rank in M.A. (in Rural Development) and obtained Ph. D. degree from Andhra University. He has participated in several international Conferences/Seminars held in India and abroad. He was a member of the ICSSR delegation to North Korea, founder in charge Director of the SAARC Centre and has been the Director of the NABARD Chair Unit since 1998. He worked as an FAO-TCDC Consultant to the Government of Zambia on Agricultural Finance in the year 2000. He has involved himself in conducting field based research studies for various organisations like the All India Rural Credit Review Committee (1969), the NABARD (1985), Indo Dutch project on Alternatives in Development (1984-86), Department of Rural Development, Ministry of Agriculture (1992). He has supervised 10 Ph. D. scholars and published books on Cooperation and Agricultural Finance.