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Economic Reform and Alternatives for North Korea

Author

Listed:
  • Thomas Cargill

    () (Department of Economics, University of Nevada, Reno)

  • Elliott Parker

    () (Department of Economics, University of Nevada, Reno)

Abstract

This chapter assesses the potential for reform in North Korea, and considers the lessons learned from economic reform and transition in China, the Soviet Union, and Central Europe. We focus in particular on the importance of reforms in the financial regime, and argue that in the absence of a major change in North Korea?s environment, such as a crisis caused by reduced economic and/or political support from China, or increased access by the North Korean population to events in the rest of the world, the current situation is likely to continue for many years. North Korea will thus continue to alternate between declining, stagnant or mediocre economic growth. It will also continue to be a source of geo-political instability in the world in general and Asia in particular.

Suggested Citation

  • Thomas Cargill & Elliott Parker, 2010. "Economic Reform and Alternatives for North Korea," Working Papers 10-008, University of Nevada, Reno, Department of Economics;University of Nevada, Reno , Department of Resource Economics.
  • Handle: RePEc:unr:wpaper:10-008
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    File URL: http://www.coba.unr.edu/econ/wp/papers/UNRECONWP10008.pdf
    File Function: First version, 2010
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    More about this item

    Keywords

    Economic Reform; North Korea; Price Liberalization;

    JEL classification:

    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
    • P52 - Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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