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Price and foreign exchange rate in North Korea: Observations, trends, and analysis

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  • Choi, Ji Young
  • Lee, Suk

Abstract

One of the most important variables in the study of the North Korean economy is market prices and foreign exchange rates. This is because of the assumption that the two variables immediately reflect the status and trends of the North Korean economy. In fact, many North Korean economic studies use observations on these variables as important analysis data. Despite such reality, however, market price and the foreign exchange rate are among the trickiest of all macroeconomic variables related to the economy. Researchers have yet to agree as to how the variables should be measured, what kind of methods should be used to analyze the measures, and how the outcomes should be interpreted. In an attempt to find an answer to these questions, we invited Dr. Ji Young Choi, Research Fellow at the Korea Institute for National Unification (KINU). Dr. Choi has long studied prices and foreign exchange rates in North Korea. She is recognized as one of the most prominent experts in the area not only in Korea but also abroad.

Suggested Citation

  • Choi, Ji Young & Lee, Suk, 2021. "Price and foreign exchange rate in North Korea: Observations, trends, and analysis," Dialogue on the North Korea Economy October 2021, Korea Development Institute (KDI).
    • Handle: RePEc:zbw:kdidia:october2021
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    1. Mun , Sung Min & Jung , Seung Ho, 2017. "Dollarization in North Korea: Evidence from a Survey of North Korean Refugees," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 21(1), pages 81-100, March.
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    1. Lee, Jongkyu & Lee, Suk, 2020. "Dollarization of the North Korean Economy: Causes and Effects," Dialogue on the North Korea Economy March 2020, Korea Development Institute (KDI).

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