Economic-political layout for science & technology collaboration with DPRK

[...]the agreement between the former Soviet Union and DPRK, signed in November 1990 establishing trade in hard currency exchange at world prices, was a crushing blow to its economy: DPRK had to settle its bilateral trade account with convertible hard currency instead of acting on the old, long-term...

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Bibliographic Details
Published inKorea observer Vol. 33; no. 1; pp. 67 - 87
Main Author Kim, Youn-Suk
Format Journal Article
LanguageEnglish
Published Seoul Institute of Korean Studies 01.04.2002
Subjects
Bilateral relations
Bilateral trade
Capital depreciation
Collaboration
Competition
Cooperation
Cost control
Currency convertibility
Economic aspects
Economic cooperation
Economic development
Economic reform
Economic relations
Education
Exchange (Economics)
Expatriates
Expenditures
Foreign aid
Foreign exchange
Foreign investment
Graduate students
Indexing in process
Industrial development
Industrial policy
International cooperation
International trade
Investment
Korea
Markets
Middle schools
Money
North Korea
Political economy
Politics
Postcommunist societies
Productivity
R&D
Reconciliation
Research & development
Research and development
Reunification
Science
Science policy
Scientists
South Korea
Technology
Technology policy
Trade
Trade policy
Trading companies
South Korea
United Kingdom > UK
China
North Korea
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Summary:[...]the agreement between the former Soviet Union and DPRK, signed in November 1990 establishing trade in hard currency exchange at world prices, was a crushing blow to its economy: DPRK had to settle its bilateral trade account with convertible hard currency instead of acting on the old, long-term barter basis. [...]its changes involved increasing use of markets and the profit incentive to increase both foreign-exchange earnings and output, and it opened direct trade with ROK's trading companies in 1991. [...]in 1999, SMEs shared 83.3% in the number of firms and accounted for 62.4% in terms of trade amounts. The elimination of trade barriers, the emerging stable markets and resulting intensified competition would increase productivity and reduce costs, shifting aggregate supply. [...]savings on spending as peace dividends are materialized and government procurement is opened up would decrease tax burdens and interest rates, the latter stimulating investment in productive capacity, further adding to the beneficial supply shift.
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ISSN:0023-3919
2586-3053