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Economic Development of North Korea: International Trade Based Development Policy and Legal Reform

Author

Listed:
  • Lee Y.S.

    (The Law and Development Institute)

  • Kim Young-Ok

    (Shin & Kim, PLC)

  • Mun Hye Seong

    (The Law and Development Institute)

Abstract

This article provides a rare account of the law and development policies of North Korea. Much of North Korea has not been known to the outside world except its nuclear ambitions and political clashes with the United States and its allies. Little known to the outside world, North Korea achieved rapid economic development in the 1950s through early 60s, through effective mobilization of resources. However, since the 70s, North Korea experienced economic downturns that eventually led to its economic crisis in the 90s. This chapter provides a discussion of North Korea's early economic success and the subsequent problems that it experienced. The article also provides an analysis of possible economic reforms, public health and development issues, and the role of international trade in economic development in North Korea.

Suggested Citation

  • Lee Y.S. & Kim Young-Ok & Mun Hye Seong, 2010. "Economic Development of North Korea: International Trade Based Development Policy and Legal Reform," The Law and Development Review, De Gruyter, vol. 3(1), pages 135-155, November.
  • Handle: RePEc:bpj:lawdev:v:3:y:2010:i:1:n:5
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