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Scenarios for a Transition to a Prosperous Market Economy in North Korea

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  • Byung-Yeon Kim
  • Gerard Roland

Abstract

We examine in detail two possible scenarios for a transition to the market economy in North Korea. In the first scenario, we explore a transition path of North Korea to the market economy following a regime collapse. In the second scenario, we explore a transition path that would be chosen by the North Korean leaders, following the experience of China and Vietnam. While these scenarios have common features, they also involve important differences.

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  • Byung-Yeon Kim & Gerard Roland, 2012. "Scenarios for a Transition to a Prosperous Market Economy in North Korea," International Economic Journal, Taylor & Francis Journals, vol. 26(3), pages 511-539, September.
    • Handle: RePEc:taf:intecj:v:26:y:2012:i:3:p:511-539
    DOI: 10.1080/10168737.2012.707878
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    1. Lawrence J. Lau & Yingyi Qian & Gerard Roland, 2000. "Reform without Losers: An Interpretation of China's Dual-Track Approach to Transition," Journal of Political Economy, University of Chicago Press, vol. 108(1), pages 120-143, February.
    2. Burda, Michael C., 1993. "The determinants of East-West German migration: Some first results," European Economic Review, Elsevier, vol. 37(2-3), pages 452-461, April.
    3. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December.
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