Peter Ward is a senior researcher at Kookmin University, a writer and researcher focusing on the North Korean economy, and holds a Ph.D. from the University of Vienna.
The DPRK relies on Soviet-style state-directed development, with regular households expected to make up the rest
Recent DPRK research points to tighter regulations, likely to prevent price wars and manage competition between firms
The DPRK’s crackdown on foreign media can make ignorance the best option, but it also comes at high cost to the regime
North Korea is prioritizing central control, rolling back reforms in ways that hurt markets and economic autonomy
The DPRK has multiple revenue sources, including taxes, that have both positive and negative impacts on the economy
Kim Jong Un will likely continue rolling back tepid reforms, with potentially disastrous consequences for marketization
Political and military elites in North Korea appear to rotate in and out of power much more frequently under Kim
Foreign exchange, food and fuel all took different price swings during North Korea’s strict pandemic border controls
Recently revealed changes to the Food Administration Act suggest efforts to reassert state control over grain sales
Inability to print cash likely behind coupons, but they also provide a safeguard for post-pandemic currency devaluation
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