What Can North Korea Learn from Transition Economies' Reform Process?

Hyung-Gon Jeong ()
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Hyung-Gon Jeong: Korea Institute for International Economic Policy

No 09-4, Working Papers from Korea Institute for International Economic Policy

Abstract: This study compares the initial conditions of North Korea with East European countries by using the principal components analysis. Based on statistics from December 2007, the initial conditions of North Korean economy are better than countries like Turkmenistan, Tajikistan, Moldova, and Ukraine in the early 90's, but worse than Albania, Croatia, Hungary, Poland, and the Czech Republic. It is very costly for North Korea to initiate rapid transition, because of strong socialist characteristics that pervade its economy. Therefore, it is more likely that North Korea will promote a slow and gradual reform, considering the initial conditions of its economy and political barriers.

Keywords: Transition Economy; Economic Reform; Covariance Analysis; Initial Conditions; North Korea (search for similar items in EconPapers)
Pages: 43 pages
Date: 2009-09-25
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepwp:2009_004

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