Numerical exercises we have performed indicate that when one operates a country as a slavery system, the slaves would end up barely subsisting, whereas the masters could live affluently.What might North Korea do to achieve prolonged economic progresses? The followings appear to be the bare...

Utilizing a model of income and population growth specialized to a dual-class (master-slave) economy, we show that the lack of ownership for the majority of people may have been the main culprit why North Korea has remained stagnant in the past. The slave-workers, for whom ownership (and...

Establishing new SEZs, along with improving foreign relationships, is treated as the most important policy measure for opening the North Korean economy. Recently, North Korea has shown its interest in promoting two new SEZs, the Gaeseong industrial park and the Shinuiju special administrative...

This study aims to predict the possible changes in the North Korean economic system by examining 27 countries that have experienced economic transition since 1990. This study divides the 27 transition countries into three groups (i.e., outstanding, fine, and poor transition) through discriminant...

Transformation to some market approaches in North Korea is of highest importance for more economic cooperation on the Korean peninsula. Kim Jong-uns's Byungjin policy, a new ideological approach announced in 2011, gave some hope for such reforms. At least, basic economic reforms like in China or...

We construct a framework for the interaction between economic system reform and the technological-economic system in order to analyze the dynamic process of China's economic transformation and development. China has passed through three major phases of economic system reform, which have involved...

The Cuban government has a dominant role to play in determining the future landscape of the country's financial markets. This is a multifaceted issue. Finance operates in combination with a constellation of other factors, including sound laws, institutions that respect property rights, and...

Mozambique has staged a dramatic recovery from the damage of the civil war, improving infrastructure nearly to pre-war levels; reducing poverty from 69 to 54 percent; growing the economy by 8 percent annually between 1996 and 2003; expanding the agricultural, tourism construction and manufacturing...

This Country Economic Memorandum reviews the significant changes Mozambique underwent in the last five years, specifying that to continue its rapid growth, and reduce its high levels of poverty, the country will need to adopt a new set of reforms. Such reforms, focused on increasing the...