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The costs and benefits of Korean Unification

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  • The costs and benefits of Korean Unification
  • Noland, Marcus; Robinson, Sherman; Liu, Li-Gang
  • Institute for International Economics


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Title The costs and benefits of Korean Unification
Similar Titles
Material Type Articles
Author(English)

Noland, Marcus; Robinson, Sherman; Liu, Li-Gang

Publisher

[Washington, D.C.]:Institute for International Economics

Date 1997
Series Title; No Working Paper / 98-1
Subject Country North Korea(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Government and Law < Public Administration
Government and Law < National security
Holding IIE

Abstract

Existing estimates of the costs of unification are inadequate for a number of reasons. In this paper we use a dynamic computable general equilibrium model to calculate South Korean and total peninsular income streams under a variety of unification (and non-unification) scenarios. We find that there is a scenario in which the present discounted value of South Korean income is higher with unification than without it. Although lower income groups in South Korea experience reduced incomes under this scenario, with redistribution of the gains, everyone can be made better off. Indeed, this scenario, which involves relatively low levels of South Korean private investment in the North together with relatively high levels of North-South migration, is also the one which generates the highest level of total peninsular income as well. (The rest omitted)