Economic Opportunities Amid Improving Inter-Korean Relations and Denuclearization Talks
Choi, Jangho | June 2018
Abstract
The progress we are seeing in the denuclearization talks is leading to hopeful anticipation among North Korea's neighbors for prospective economic investments within the country. A successful conclusion to the denuclearization talks is likely to be followed by North Korea's economic transition to a market economy. North Korea has many advantages to attract foreign direct investment (FDI), such as its cheap labor, abundant mineral resources, and geographical location. At the initial stages of the economic transition, FDI to North Korea will likely suffer from the poor infrastructure conditions within the country and lack of understanding about laws and institution systems of market economies. However, FDI to North Korea will show high profits over the mid- to long-term. In the words of a Bloomberg report, "North Korea looks like Vietnam in 1986, and the economy is a bit more industrialized." According to World Bank statistics, Vietnam's GDP rose from 6.3 billion in 1989 to 205.3 billion US dollars in 2016, averaging approximately 13% annual growth in its GDP following the Doimoi economic reform policy carried out in 1986.
Citation
Choi, Jangho. 2018. Economic Opportunities Amid Improving Inter-Korean Relations and Denuclearization Talks. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/8484.Keywords
Development Planning
Development Research
Technology Development
Aid And Development
Asian Development Bank
Comprehensive Development Framework
Development Cooperation
Development Management
Development Planning
Development Strategies
Development Research
Green revolution
Development strategy
Development models
Economic development
New technology
Rural planning
Aid coordination
Industrial projects
Infrastructure projects
Natural resources policy
Educational development
Absorptive capacity
Tourism policy
Development strategy
Rural planning
Regional development bank
Project finance
Strategic planning
Infrastructure projects
Government programs
Public finance
Public enterprises
Development
Economics
Development In East Asia
Development Planning
Development Research
Technology Development
Aid And Development
Asian Development Bank
Comprehensive Development Framework
Development Cooperation
Development Management
Development Planning
Development Strategies
Development strategy
Development models
Economic development
New technology
Rural planning
Aid coordination
Industrial projects
Infrastructure projects
Natural resources policy
Educational development
Absorptive capacity
Economic development projects
Economic forecasting
Economic development projects
Municipal government
Technology transfer
Exchanges of patents and technical information
Technical education
Technology
Communication in rural development
Communication in community development
Economic development projects
Development banks
Economic forecasting
Environmental auditing
Cumulative effects assessment
Human rights and globalization
Transfer Technocracy
Absorptive capacity
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