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The potential of Russia-DPRK cooperation: economic advantages and political disadvantages

Author

Listed:
  • Bulychev, G.

    (Institute of Economics, Russian Academy of Sciences, Moscow, Russia)

  • Yakovlev, A.

    (Moscow School of Economics, Lomonosov Moscow State University, Moscow, Russia
    Institute of Economics, Russian Academy of Sciences, Moscow, Russia)

Abstract

The article discusses the possible prospects for re-establishing economic and political cooperation between Russia and Democratic People's Republic of Korea (DPRK) in the current geopolitical situation. Despite the development of advanced cooperation between the USSR and the DPRK in historical retrospect, the change of the political regime in Russia led to a complete rupture of economic ties. In the new geopolitical reality and the challenge of Russia's policy of "turning to the East", it is noteworthy that DPRK takes a radical pro-Russian position on the conflict in Ukraine, which can serve a basis for re-establishing political and economic relations between two countries. However, the prospects for the development of large-scale cooperation between the Russian Federation and the DPRK at the moment seem rather vague, since the North Korean economy remains isolated, the country's borders are still closed and the country is under UN sanctions pressure and a wide range of bilateral restrictive measures from Western countries for a long time, which blocks almost all forms of economic cooperation. The DPRK's adaptation to restrictions and the development of mechanisms to circumvent sanctions by creating the necessary financial and logistics infrastructure allow the country to generate income and purchase the necessary goods and resources. It is concluded that with the final loss of Western markets, the importance of DPRK as a trading partner for Russia may increase.

Suggested Citation

  • Bulychev, G. & Yakovlev, A., 2023. "The potential of Russia-DPRK cooperation: economic advantages and political disadvantages," Journal of the New Economic Association, New Economic Association, vol. 58(1), pages 172-181.
    • Handle: RePEc:nea:journl:y:2023:i:58:p:172-181
    DOI: 10.31737/22212264_2023_1_172
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    References listed on IDEAS

    as
    1. Haggard, Stephan & Noland, Marcus, 2016. "Hard Target: Sanctions, Inducements, and the Case of North Korea," MPRA Paper 105812, University Library of Munich, Germany.
    2. Daniel Goodkind & Loraine West, 2001. "The North Korean Famine and Its Demographic Impact," Population and Development Review, The Population Council, Inc., vol. 27(2), pages 219-238, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    DPRK; sanctions; effectiveness of sanctions; economy of North Korea; UN Security Council; Russian-North Korean cooperation;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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