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North Korea: The last transition economy?

Author

Listed:
  • Vincent Koen
  • Jinwoan Beom

Abstract

The North Korean economy has been a statistical black hole for decades but is undergoing substantial transformations. Rapid post-war industrialisation was not sustained beyond the mid-1960s and South Korea’s economy far outpaced North Korea’s during the next three decades, during which trend growth declined and turned negative as Soviet support ended and the terms of trade with China became less friendly. Today, GDP in North Korea is reportedly lower than in 1990, notwithstanding a larger population, and gross national income per capita is probably down to only a tiny fraction of South Korea’s.

Suggested Citation

  • Vincent Koen & Jinwoan Beom, 2020. "North Korea: The last transition economy?," OECD Economics Department Working Papers 1607, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:1607-en
    DOI: 10.1787/82dee315-en
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    Citations

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    Cited by:

    1. Gianluca Spezza, 2023. "Understanding North Korea's Resilience through Economy, Laws and Governance: a review of introductory sources and essential monographs," The Northeast Asian Economic Review, ERINA - Economic Research Institute for Northeast Asia, vol. 8(1), pages 17-28, February.
    2. Sejin Choi & Taehoon Kim & Soyoung Choi & Hee Young Shin, 2020. "Surgical Diseases in North Korea: An Overview of North Korean Medical Journals," IJERPH, MDPI, vol. 17(24), pages 1-14, December.
    3. César Ducruet & In Joo Yoon, 2022. "Maritime trade and economic development in North Korea," EconomiX Working Papers 2022-12, University of Paris Nanterre, EconomiX.

    More about this item

    Keywords

    central planning; China; construction; corruption; defence; development; digitalisation; energy; exchange rates; food; health; international sanctions; marketisation; monetary reform; natural disasters; North Korea; pollution; rail; Russia; smuggling; South Korea; Soviet; special economic zones; tourism; trade; transition; transport;
    All these keywords.

    JEL classification:

    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • N35 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Asia including Middle East
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East
    • N55 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Asia including Middle East
    • N65 - Economic History - - Manufacturing and Construction - - - Asia including Middle East
    • N75 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Asia including Middle East
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P22 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Prices
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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