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Australian Journal of Asian Law

Abstract from Volume 6 No 3 (2005)

Learning from China’s Experience for the Reform of North Korean Central Banking

Dongwook Lee is former senior analyst of Chinese economy at Korea Center for International Finance, Seoul, Korea.

From the time that Kim Jong Il visited the Shanghai Stock Exchange in January 2001, North Korea has showed signs of reforming its economic policy. This article proceeds on the assumption that North Korea needs banking reform to accelerate its economic reform. The article considers what role a central bank would play in a socialist economy like that of North Korea; analyses whether the Chinese central bank is the proper model for North Korea in its early stage of economic reform; and examines what lessons North Korean central bankers and policy makers can learn from the experiences of China and the Chinese central bank.

(2005) 6(3) Asian Law 253
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