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Economic sonsequences of German unification and its policy implications for Korea

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  • Economic sonsequences of German unification and its policy implications for Korea
  • Yeon, Hacheong
  • Korea Development Institute
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Title Economic sonsequences of German unification and its policy implications for Korea
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Material Type Reports
Author(English)

Yeon, Hacheong

Publisher

Seoul:Korea Development Institute

Date 1993
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Government and Law < National security
Holding Korea Development Institute

Abstract

This paper attempts to identify major economic issues arising when a centrally planned economy is absorbed into a market economy. It is clear from the German experience that even the West Germans, with close contact for 20 years, did not have a good understanding of the East German economy, and were poorly prepared for economic and monetary union. Thus, a description of the North Korean economy at a macro level is given before discussing the German experience in the process of unification. Then the similarities and dissimilarities between the German and Korean situations are briefly touched upon.