December 05, 2022

About the author

Peter Ward

Peter Ward is a writer and researcher focusing on the North Korean economy, as well as a PhD candidate at the University of Vienna.

More articles by 'Peter Ward'

The tragedy of the commons: Natural resource dilemmas in North Korea
NK PRO

The tragedy of the commons: Natural resource dilemmas in North Korea

Neither the people nor the central government are incentivized to manage forests and oceans sustainably in the short run

The tragedy of the commons: Natural resource dilemmas in North Korea
Peter Ward
Peter Ward December 5, 2022
North Korea’s markets are not a revolutionary force for political change
NK PRO

North Korea’s markets are not a revolutionary force for political change

DPRK entrepreneurs are dependent on and captive to state actors, giving them little incentive to challenge the regime

North Korea’s markets are not a revolutionary force for political change
Peter Ward
Peter Ward November 1, 2022
Why North Korea’s shadow economy is not a solution to reform
NK PRO

Why North Korea’s shadow economy is not a solution to reform

Informal economic activity provides key products but has limited growth potential, while even reform is not a cure-all

Why North Korea’s shadow economy is not a solution to reform
Peter Ward
Peter Ward October 28, 2022
China’s economic slowdown bodes ill for North Korea and denuclearization efforts
NK PRO

China’s economic slowdown bodes ill for North Korea and denuclearization efforts

Reduced consumer demand and increased risk aversion likely to impact DPRK sectors ranging from coal exports to tourism

China’s economic slowdown bodes ill for North Korea and denuclearization efforts
Peter Ward
Peter Ward October 12, 2022
Kim Jong Un sets ambitious economic goals but has no real plan to achieve them
NK PRO

Kim Jong Un sets ambitious economic goals but has no real plan to achieve them

In latest speech, North Korean leader doubles down on decades-old proposals that have failed to fix incentive problems

Kim Jong Un sets ambitious economic goals but has no real plan to achieve them
Peter Ward
Peter Ward September 13, 2022
The limits to tyranny: Why Kim Jong Un doesn’t actually have absolute power
NK PRO

The limits to tyranny: Why Kim Jong Un doesn’t actually have absolute power

A range of factors constrain the North Korean leader in practice, despite his supreme authority in principle

The limits to tyranny: Why Kim Jong Un doesn’t actually have absolute power
Peter Ward
Peter Ward August 29, 2022
Why South Korea’s powerful economy is still considered a developing market
KOREA PRO

Why South Korea’s powerful economy is still considered a developing market

Status contributes to undervalued stocks, but Seoul has shown little interest in required reforms

Why South Korea’s powerful economy is still considered a developing market
Peter Ward
Peter Ward August 22, 2022
Why are foreign exchange rates soaring in North Korea?
NK PRO

Why are foreign exchange rates soaring in North Korea?

Global inflation, signs of looming food shortages may be driving forex market in DPRK

Why are foreign exchange rates soaring in North Korea?
Peter Ward
Peter Ward August 19, 2022
The flaws in the Bank of Korea’s estimates of North Korean economic activity
NK PRO

The flaws in the Bank of Korea’s estimates of North Korean economic activity

Questionable assumptions underlie researchers’ methods and findings, as DPRK economy remains a statistical black hole

The flaws in the Bank of Korea’s estimates of North Korean economic activity
Peter Ward
Peter Ward August 10, 2022
How Kim Jong Un created space for North Korean firms to set prices — with limits
NK PRO

How Kim Jong Un created space for North Korean firms to set prices — with limits

Documents show DPRK leader reinstated agreed price system his father rolled back but stopped short of true free market

How Kim Jong Un created space for North Korean firms to set prices — with limits
Peter Ward
Peter Ward August 2, 2022
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