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The economics of korean unification

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Author Info

  • Marcus Noland
  • Sherman Robinson
  • Ligang Liu

Abstract

We simulate the impact of a customs union and an exchange rate unification of North and South Korea. Factor mobility and technological change are of critical importance. If factor markets do not integrate, the macroeconomic impact on South Korea of economic integration is relatively small, while the effects on North Korea are large. With factor market integration, there is a significant impact on the South Korean income and wealth distribution. If integration is accompanied by external capital inflows, there is a significnt appreciation of the real exchange rate with deleterious implications for the South Korean traded-goods sector.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/13841289908523406
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.

Volume (Year): 3 (1999)
Issue (Month): 3 ()
Pages: 255-299

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Handle: RePEc:taf:jpolrf:v:3:y:1999:i:3:p:255-299

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Related research

Keywords: Korean unification; North Korea; economic integration;

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Bernhard Herz & Werner Roger, 1995. "Economic growth and convergence in Germany," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 131(1), pages 132-143, March.
  2. Hughes Hallett, A & Ma, Y & Melitz, J, 1995. "Unification and the Policy Predicament in Gemany," Papers 01, American Institute for Contemporary German Studies-.
  3. Marcus Noland & Sherman Robinson & Li-Gang Liu, 1998. "The Costs and Benefits of Korean Unification," Working Paper Series WP98-1, Peterson Institute for International Economics.
  4. Boltho, Andrea & Carlin, Wendy & Scaramozzino, Pasquale, 1997. "Will East Germany Become a New Mezzogiorno?," Journal of Comparative Economics, Elsevier, vol. 24(3), pages 241-264, June.
  5. Thimann, C & Breitner, M-H, 1995. "Eastern Germany and the Conflict between Wage Adjustment, Investment and Employment : A Numerical Analysis," Papers 02, American Institute for Contemporary German Studies-.
  6. Hans-Werner Sinn, 1995. "Staggering along: wages policy and investment support in East Germany," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 3(4), pages 403-426, December.
  7. Golan, Amos & Judge, George & Robinson, Sherman, 1994. "Recovering Information from Incomplete or Partial Multisectoral Economic Data," The Review of Economics and Statistics, MIT Press, vol. 76(3), pages 541-49, August.
  8. Stone, Richard, 1986. "Nobel Memorial Lecture 1984: The Accounts of Society," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(1), pages 5-28, January.
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Citations

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Cited by:
  1. Ruiz Estrada, Mario Arturo & Park, Donghyun, 2008. "Korean unification: How painful and how costly," Journal of Policy Modeling, Elsevier, vol. 30(1), pages 87-100.
  2. Marcus Noland & Sherman Robinson & Tao Wang, 1999. "Famine in North Korea: Causes and Cures," Working Paper Series WP99-2, Peterson Institute for International Economics.
  3. Bradford, Scott C. & Phillips, Kerk L., 2008. "The Economic Reunification of Korea: A Dynamic General Equilibrium Model," MPRA Paper 23550, University Library of Munich, Germany.
  4. Bernhard Heitger, 2001. "Minimum Wages and Employment: The Case of German Unification," Kiel Working Papers 1045, Kiel Institute for the World Economy.
  5. Marcus Noland & Sherman Robinson & Tao Wang, 1999. "Rigorous Speculation: The Collapse and Revival of the North Korean Economy," Working Paper Series WP99-1, Peterson Institute for International Economics.
  6. Paul Hare, 2012. "North Korea: Building the Institutions to Raise Living Standards," International Economic Journal, Taylor & Francis Journals, vol. 26(3), pages 487-509, September.
  7. Noland, Marcus & Robinson, Sherman & Wang, Tao, 2000. "Modeling Korean Unification," Journal of Comparative Economics, Elsevier, vol. 28(2), pages 400-421, June.
  8. Bernhard Heitger, 2001. "Minimum Wages And Employment: The Case Of German Unification," International Economic Journal, Taylor & Francis Journals, vol. 17(1), pages 1-15.

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