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North Korea is one of the most closed and secretive societies in the world. Despite a high level of interest from the outside world, we have very little detailed information about how the country functions economically. In this valuable book for both the academic and policy-making circles, Byung-Yeon Kim offers the most comprehensive and systematic analysis of the present day North Korean economy in the context of economic systems and transition economics. It addresses what is really happening in the North Korean economy, why it has previously failed, and how the country can make the transition to a market economy. It takes advantage not only of carefully reconstructed macro data but also rich, new data at the micro level, such as quantitative surveys of North Korean refugees settled in South Korea, and the surveys of Chinese companies that interact heavily with North Korea.

Economic order --- North Korea --- Economic history. --- Economic policy. --- International economic relations. --- Korea (North) --- Korea (North). --- Economic conditions. --- Foreign economic relations. --- Korean People's Republic --- People's Democratic Republic of Korea --- Koreĭskai︠a︡ Narodno-Demokraticheskai︠a︡ Respublika --- Korea (North Korean Government) --- Democratic People's Republic of Korea --- KNDR --- Chʻao-hsien min chu chu i jen min kung ho kuo --- Koreai Népi Demokratikus Köztársaság --- Korea (Democratic People's Republic) --- K.N.D.R. --- K.R.L.D. --- Korea (People's Democratic Republic) --- Korean People's Democratic Republic --- Chōsen Minshu Shugi Jinmin Kyōwakoku --- Chosŏn Minjujuŭi Inmin Konghwaguk --- KRLD --- Koreańska Republika Ludowo-Demokratyczna --- Kūriyā al-Dīmuqrāṭīyah --- D.P.R.K. --- DPRK --- Corée du Nord --- República Popular Democrática de Corea --- Corea (North) --- North Korean Interim Government --- Chosun Minchu-chui Inmin Konghwa-guk --- Chaoxian minzhu zhuyi renmin gongheguo --- 朝鲜民主主义人民共和国

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