IDEAS home Printed from https://ideas.repec.org/h/spr/fimchp/978-3-319-59846-8_4.html
   My bibliography  Save this book chapter

De-monetisation, Re-monetisation, and Parallel Currencies in North Korea

In: Cash in East Asia

Author

Listed:
  • Rüdiger Frank

    (University of Vienna)

Abstract

North Korea has been, and arguable still is, an extreme case of a state socialist system. Due to ideological and economic reasons, by the late 1980s, the country had been largely de-monetised in the sense that money existed but was unable to fulfil its basic functions. A massive economic shock resulting from the collapse of the global socialist system after 1990 contributed to a re-monetisation including a reform of the domestic currency from the mid-1990s. Individuals have reacted in a predictable way, thus weakening the power of the state. Currently, North Korea is, in some aspects, more monetised than, for example, East Germany was in 1989, thanks to the de facto existence of parallel currencies. This chapter analyses the process of re-monetisation, its impact on society, and the state’s efforts to curb these effects, which we are only beginning to comprehend fully.

Suggested Citation

  • Rüdiger Frank, 2017. "De-monetisation, Re-monetisation, and Parallel Currencies in North Korea," Financial and Monetary Policy Studies, in: Frank Rövekamp & Moritz Bälz & Hanns Günther Hilpert (ed.), Cash in East Asia, chapter 0, pages 43-61, Springer.
    • Handle: RePEc:spr:fimchp:978-3-319-59846-8_4
    DOI: 10.1007/978-3-319-59846-8_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:spr:fimchp:978-3-319-59846-8_4. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.