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Growth and Convergence in a Two-region Moddel: The Hypothetical Case of Korean Unification

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Author Info
Michael Funke (Hamburg University)
Holger Strulik (Hamburg University)

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Abstract

The paper discusses the impact and implications of Korean unification by setting up a two-region endogenous growth model. The numerical solutions are based on the formal analytical model, and have been calibrated so that they reflect the observed features of the North and South Korean economies. The numerical solutions provide evidence about the speed of convergence and the large amount of interregional transfers that would be required to make the North Korean economy economically viable. We also model the impact of foreign aid, migration and borrowing abroad for the transition process.

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Publisher Info
Paper provided by Hong Kong Institute for Monetary Research in its series Working Papers with number 212003.

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Length: 26 pages
Date of creation: Oct 2003
Date of revision:
Handle: RePEc:hkm:wpaper:212003

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Related research
Keywords: Korean Unification; Regional Convergence; Economic Growth;

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Find related papers by JEL classification:
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
H40 - Public Economics - - Publicly Provided Goods - - - General

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    Other versions:
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    Other versions:
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