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North Korea's economic policy : History and future prospects

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Title North Korea's economic policy
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Sub Title

History and future prospects

Material Type Articles
Author(English)

Cho, Myung Chul; Zang, Hyoungsoo

Publisher

[서울]:한양대학교 경제연구소

Date 2001
Journal Title; Vol./Issue 경제연구:vol. 22(issue 2)
Pages 35
Subject Country North Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Others
Holding 한양대학교 경제연구소

Abstract

  In the past 50 years, major changes in North Korea"s economic policy were precipitated by a series of decisive events. The completion of the "transformation to socialist production system" in 1958, the Four Militarization Lines of the 1960s, the July4 North-South Joint Communique in 1972, and the adoption of the "Law on Joint Venture" in 1984 are some of those events. In the 1990s, the collapse of the Soviet Union and Eastern Europe greatly affected North Korea"s economic policy. However, the primary factor that altered policy was the outcome of the policy itself. Depending on the evaluation of the outcome, previous policies were either strengthened or altered. In this paper, economic policies of North Korea will be reviewed in chronological order from 1945 to today, followed by our assessment on future prospects.