Market Socialism in North Korea: A Comparative Perspective

Gary Stradiotto and Sujian Guo

Journal of the Asia Pacific Economy, 2007, vol. 12, issue 2, 188-214

Abstract: Since the 2002–2003 implementation of economic reforms by the North Korean government, scholars have debated whether they are an attempt at Chinese style reforms and thus a move towards market socialism or merely an effort to strengthen, not replace, the traditional North Korean style chuch'e economic system. To date, with Pyongyang remaining largely silent on the intent of the reforms and continued difficulty in obtaining authoritative details about the state of the economy, no consensus has been reached about the nature and direction of reform. This article addresses the question by developing a multidimensional framework for market socialism against which the reforms can be assessed. Our analysis demonstrates empirical regularities consistent with a multidimensional framework of market socialism across cases and the evidence suggests North Korea has departed from the traditional command economy toward market socialism.

Date: 2007
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DOI: 10.1080/13547860701252421

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