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

Author

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  • Jeong, Hyung-Gon

    (Korea Institute for International Economic Policy)

  • Bang, Ho-Kyung

    (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.

Suggested Citation

  • Jeong, Hyung-Gon & Bang, Ho-Kyung, 2017. "The Impact of Un Sanctions on North Korea's Luxury Goods Imports," Staff Papers 17-2, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepsp:2017_002
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    More about this item

    Keywords

    North Korea (DPRK); Economic Sanctions; Nuclear; United Nations;
    All these keywords.

    JEL classification:

    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General

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