Korean Unification: How Painful and How Costly?

Journal of Policy Modeling, Vol. 30, No. 1, pp. 87-100, January-February 2008

Posted: 17 Feb 2009 Last revised: 28 Feb 2015

See all articles by Mario Arturo Ruiz Estrada

Mario Arturo Ruiz Estrada

University of Malaya (UM) - Faculty of Economics & Administration (FEA)

Date Written: February 16, 2009

Abstract

Unification between two countries is not a purely economic phenomenon but a multidimensional phenomenon. We evaluate the prospects of unification between South Korea and North Korea from a multidimensional perspective encompassing the political, social, economic and technological dimensions. To do so, we use the Global Dimension of Regional Integration model developed by [Ruiz, M. A. (2004). The Global Dimension of Regional Integration Model (GDRI-Model), FEA 2004-7. Faculty of Economics and Administration (FEA) Working Papers. Kuala Lumpur, Malaysia: University of Malaya]. Our main finding is a wide and growing gap between the two Koreas in terms of political, social, economic and technological development as well as overall development. This suggests that inter-Korean unification is likely to be a costly and disruptive process.

Keywords: Economic integration, Economic modeling, Korea

JEL Classification: F15

Suggested Citation

Ruiz Estrada, Mario Arturo, Korean Unification: How Painful and How Costly? (February 16, 2009). Journal of Policy Modeling, Vol. 30, No. 1, pp. 87-100, January-February 2008. Available at SSRN: https://ssrn.com/abstract=1344169

Mario Arturo Ruiz Estrada (Contact Author)

University of Malaya (UM) - Faculty of Economics & Administration (FEA) ( email )

Kuala Lumpur, 50603
Malaysia
+60126850293 (Phone)

HOME PAGE: http://ssrc.um.edu.my/

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