Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices
This study examines the impact of COVID-19 and border closures on North Korean markets by comparing the prices of key goods—rice, gasoline, diesel, and exchange rates—with those in the Chinese and global markets. By analyzing market price data, we assess North Korea's economic connectivity to i...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-07-01
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| Series: | Asia and the Global Economy |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2667111524000203 |
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| _version_ | 1850109366262300672 |
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| author | Seungho Jung Dawool Kim Kyoochul Kim |
| author_facet | Seungho Jung Dawool Kim Kyoochul Kim |
| author_sort | Seungho Jung |
| collection | DOAJ |
| description | This study examines the impact of COVID-19 and border closures on North Korean markets by comparing the prices of key goods—rice, gasoline, diesel, and exchange rates—with those in the Chinese and global markets. By analyzing market price data, we assess North Korea's economic connectivity to international markets, particularly through China, and how pandemic-induced disruptions affected this linkage. Empirical results reveal that North Korean market prices for these goods generally maintain a long-term equilibrium relationship with international and Chinese prices, although the COVID-19 period disrupted this relationship. These findings suggest that North Korea's macroeconomic stability, especially price levels, is influenced by external factors through its economic ties with China. |
| format | Article |
| id | doaj-art-95cd249d5db04545af77c49d3116549c |
| institution | OA Journals |
| issn | 2667-1115 |
| language | English |
| publishDate | 2024-07-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Asia and the Global Economy |
| spelling | doaj-art-95cd249d5db04545af77c49d3116549c2025-08-20T02:38:05ZengElsevierAsia and the Global Economy2667-11152024-07-014210009610.1016/j.aglobe.2024.100096Impact of COVID-19 and border closures on North Korean markets: A comparison with international pricesSeungho Jung0Dawool Kim1Kyoochul Kim2Incheon National University, South KoreaKorea Institute for International Economic Policy, South Korea; Corresponding author.Korea Development Institute, South KoreaThis study examines the impact of COVID-19 and border closures on North Korean markets by comparing the prices of key goods—rice, gasoline, diesel, and exchange rates—with those in the Chinese and global markets. By analyzing market price data, we assess North Korea's economic connectivity to international markets, particularly through China, and how pandemic-induced disruptions affected this linkage. Empirical results reveal that North Korean market prices for these goods generally maintain a long-term equilibrium relationship with international and Chinese prices, although the COVID-19 period disrupted this relationship. These findings suggest that North Korea's macroeconomic stability, especially price levels, is influenced by external factors through its economic ties with China.http://www.sciencedirect.com/science/article/pii/S2667111524000203COVID-19North Korean economyMarket pricesMarket exchange ratesLong-term equilibrium relationship |
| spellingShingle | Seungho Jung Dawool Kim Kyoochul Kim Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices Asia and the Global Economy COVID-19 North Korean economy Market prices Market exchange rates Long-term equilibrium relationship |
| title | Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices |
| title_full | Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices |
| title_fullStr | Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices |
| title_full_unstemmed | Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices |
| title_short | Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices |
| title_sort | impact of covid 19 and border closures on north korean markets a comparison with international prices |
| topic | COVID-19 North Korean economy Market prices Market exchange rates Long-term equilibrium relationship |
| url | http://www.sciencedirect.com/science/article/pii/S2667111524000203 |
| work_keys_str_mv | AT seunghojung impactofcovid19andborderclosuresonnorthkoreanmarketsacomparisonwithinternationalprices AT dawoolkim impactofcovid19andborderclosuresonnorthkoreanmarketsacomparisonwithinternationalprices AT kyoochulkim impactofcovid19andborderclosuresonnorthkoreanmarketsacomparisonwithinternationalprices |