The Impact of Un Sanctions on North Korea's Luxury Goods Imports

Hyung-Gon Jeong () and Ho-Kyung Bang ()
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Hyung-Gon Jeong: Korea Institute for International Economic Policy
Ho-Kyung Bang: Korea Institute for International Economic Policy

No 17-2, Staff Papers from Korea Institute for International Economic Policy

Abstract: This paper aims to analyze the economic impacts of UN sanctions on North Korea’s banned luxury goods imports. The analysis is based on applying Difference-in-Differences Methods to the gravity model. The results show that North Korea’s luxury goods import patterns reflect the aforesaid model. The result of Difference-in-Differences shows that UN Resolutions 1695 and 1718 were ineffective in decreasing North Korea’s luxury goods imports. This paper also found that four countries, primarily China, accounted for 91.4% of North Korea’s luxury goods imports in 2007, and the share of North Korea’s luxury goods accounted for about 5.3% of North Korea’s overall imports.

Keywords: North Korea (DPRK); Economic Sanctions; Nuclear; United Nations (search for similar items in EconPapers)
JEL-codes: D74 F51 P20 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2017-11-22
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepsp:2017_002

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