Avoiding the Apocalypse: The Future of the Two Koreas
Institute for International Economics, 2000 - 431 pagine
On the Korean peninsula one of the greatest success stories of the postwar era confronts a famine-ridden-and possibly nuclear-armed-totalitarian state. The stakes are extraordinarily high for both North and South Korea and for countries such as the United States that have a direct stake in these affairs. This study, the most comprehensive volume to date on the subject, examines the current situation in the two Koreas in terms of three major crises: the nuclear confrontation between the United States and North Korea, the North Korean famine, and the South Korean financial crisis. The future of the peninsula is then explored under three alternative scenarios: successful reform in North Korea, collapse and absorption (as happened in Germany), and "muddling through" in which North Korea, supported by foreign powers, makes ad hoc, regime-preserving reforms that fall short of fundamental transformation.
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Figures on policy loans vary from source to source due to the imprecise definition
of a policy loan . The figures cited are from the Bank of Korea as reported by the
OECD . Some South Korean analysts report significantly higher figures . 70.
The largest single source of revenue is turnover taxes , which is typical in CPEs.
19 These taxes present special problems for analysis because they are levied at
differential rates depending on the legal status of the transacting parties .
The high interest rate policy could be interpreted as a first - best response to the
source of the macroeconomic disequilibria . However , in situations in which
there was no prior excess demand or inflation , i.e. , the South Korean case , the ...
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The South Korean Economy until 1997
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