The Korean Economies: Comparison of North and South

Overview


After the war, the divided Korea ignored common historical and economic homogeneity: the North established an autocratic socialism while the South established a market-oriented capitalism. Hwang analyzes Korea's traditional interdependence and the economic consequences of the war, giving a comparison of the two economies in terms of the macroeconomic index and living standards. He investigates public finance within the economies as well as external transactions and policies, revealing that the South's foreign ...
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Overview


After the war, the divided Korea ignored common historical and economic homogeneity: the North established an autocratic socialism while the South established a market-oriented capitalism. Hwang analyzes Korea's traditional interdependence and the economic consequences of the war, giving a comparison of the two economies in terms of the macroeconomic index and living standards. He investigates public finance within the economies as well as external transactions and policies, revealing that the South's foreign dependency policy has recently proven much more effective than the North's self-sufficiency. Hwang also includes a discussion of the economic contacts between the North and the South since September 1991, when the two Koreas became regular members of the United Nations, arguing that this will serve to ignite a new era of mutual economic and political interaction.
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Product Details

  • ISBN-13: 9780198288015
  • Publisher: Oxford University Press, USA
  • Publication date: 4/7/1994
  • Pages: 368
  • Product dimensions: 5.75 (w) x 8.81 (h) x 1.09 (d)

Table of Contents

List of Figures
List of Tables
Introduction 1
1 A Brief History of Korea 7
1.1 The Origins of the Nation and Three Kingdoms 7
1.2 The Koryo Dynasty (915-1391) 9
1.3 The Yi Dynasty (1392-1910) 11
1.4 Japanese Colonial Exploitation (1910-45) 13
1.5 Korea 1945-53; From the Year Zero to War 20
2 The Evolution of Two Rival Systems 26
2.1 General Background 26
2.2 Transitional Reforms, Economic Plans, and Management Systems 32
2.3 Summary 85
3 An Economic Comparison of North and South 93
3.1 A Few Words about Economic Statistics 93
3.2 The Macroeconomies 99
3.3 Real Living Standards 123
3.4 Conclusion 139
4 Public Finance in North and South Korea 146
4.1 Introduction 146
4.2 North Korean Development 147
4.3 South Korean Development 157
4.4 The Budgets of North and South Korea 176
4.5 Concluding Remarks 188
5 External Relations 192
5.1 North Korea 193
5.2 South Korea 216
5.3 Future Prospects 235
6 North-South Relations Today 240
6.1 Introduction 240
6.2 The Structure of Industry and Trade in North and South 241
6.3 The Opening of North-South Dialogue 253
6.4 General Lessons from the East-West Germany Interaction 259
6.5 The Future of Inter-Korean Relations and Unification 271
6.6 Concluding Remarks 278
7 Relations with Other North-East Asian Countries 285
7.1 Introduction 285
7.2 Prospects for External Economic Policy Reform in North Korea 289
7.3 The Development of Inter-State Relations in the North-East Asian Region 292
7.4 Prospects for Co-operation 296
7.5 The Changing Environment for Inter-Korean Transactions in North-East Asian Development 302
7.6 Defence and Regional Security Implications 306
7.7 Korea to the Year 2000: The Costs of Reunification 308
Epilogue 321
Appendix 1 323
Appendix 2 329
Bibliography 333
Index 341
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