PUBLICATIONS & REPORTS
PUBLICATIONS & REPORTS
From Kitakyushu to the world: AGI, a research institute that studies Asia's economy and society
The Political Economy of Re-unification between Two Koreas
| Author | Eui-Gak Hwang |
|---|---|
| Date of Publication | 2009. 4 |
| No. | 2009-16 |
| Download | 320KB |
Contents Introduction
This paper compares both the relative economic strengths of two Koreas and the economics of guns and butter in both theoretical and actual contexts, followed by analysis of the economics of Korean reunification with references in some points with the experiences and lessons obtained from both Germany’s reunification in 1990 and Vietnam’s reunification in 1975. The costs and benefits of the reunification to be incurred are presented conceptually and numerically, if possible, to reach a conclusion that the sooner the reunification is made, the less the cost of the reunification would be, unless North Korea will change its political and economic landscape toward more open and free market-oriented directions.