IDEAS home Printed from https://ideas.repec.org/a/taf/jecprf/v14y2011i4p321-332.html
   My bibliography  Save this article

Potential economic reforms in North Korea: a dynamic general equilibrium model

Author

Listed:
  • Scott Bradford
  • Dong-jin Kim
  • Kerk Phillips

Abstract

We use a dynamic general equilibrium model to examine hypothetical market reforms in North Korea. We model partial reform, in which producers choose capital allocations across sectors, with the government still fixing total capital. We also consider two full market reform scenarios. In one, public infrastructure investment remains unchanged, while, in the other, it increases substantially. In all scenarios, we assume a closed economy and a constant military size. Our simulations show little hope for the North Korean economy without boosting infrastructure. Although all of the reforms raise consumption, only significant increases in infrastructure investment bring positive economic growth.

Suggested Citation

  • Scott Bradford & Dong-jin Kim & Kerk Phillips, 2011. "Potential economic reforms in North Korea: a dynamic general equilibrium model," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 14(4), pages 321-332.
    • Handle: RePEc:taf:jecprf:v:14:y:2011:i:4:p:321-332
    DOI: 10.1080/17487870.2011.600037
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/17487870.2011.600037
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/17487870.2011.600037?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Enkhbayar Shagdar & Tomoyoshi Nakajima, 2020. "Economic Impacts to Be Brought by the DPRK's Return to International Society: CGE Analysis with the GTAP 9A Data Base," Discussion papers 2003, ERINA - Economic Research Institute for Northeast Asia.
    2. Warwick J. McKibbin & Jong Wha Lee & Weifeng Liu & Cheol Jong Song, 2018. "Modeling the Economic Impacts of Korean Unification," Asian Economic Journal, East Asian Economic Association, vol. 32(3), pages 227-256, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jecprf:v:14:y:2011:i:4:p:321-332. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/GPRE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.