Economic Reforms in North Korea (1998–2004): Systemic Restrictions, Quantitative Analysis, Ideological Background

  title={Economic Reforms in North Korea (1998–2004): Systemic Restrictions, Quantitative Analysis, Ideological Background},
  author={Ruediger Frank},
  journal={Journal of the Asia Pacific Economy},
  pages={278 - 311}
  • Ruediger Frank
  • Published 1 January 2005
  • Economics, Political Science
  • Journal of the Asia Pacific Economy
North Korea started serious economic reforms in July 2002. The regime's credo is the coexistence of a state-directed economy and a market economy. The weight of the latter will be increased gradually, depending on success and political stability. The paper explores the costs and benefits of the reforms and suggests their support. In the short run, the price reforms resulted in purchasing power gains for everybody, although these gains are now offset by inflation. The reforms have been well… 
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