2nd International Conference on Economics, Finance and Management Outlooks 20-21 December, 2014 Pearl International Hotel, Kuala Lumpur, Malaysia

1. Abstract of Economics, Finance and Management Outlooks, 2014, Vol.2
DOI: 10.18488/journal.1003/2014.2/1003.2
2nd
International Conference on Economics, Finance
and Management Outlooks
20-21 December, 2014
Pearl International Hotel, Kuala Lumpur, Malaysia
Conference Website: www.pakrdw.com
26
Paper ID: 148/14/2
nd
ICEFMO
Will Informal Markets be a Path to Development in North
Korea?
Max St. Brown1
1
Assistant Professor of Economics, Eckerd College
Abstract
Informal markets, operating outside of North Korea’s government-controlled public
distribution system, allow citizens to purchase food and consumer goods and provide
supplemental income for vendors. The markets play an important role because many
citizens would have limited access to food otherwise. This paper analyzes the role of
informal markets on improving food security in North Korea and discusses the potential
for increased trade in informal markets due to increased communication efficiencies
and women’s empowerment. This paper extends the literature by analyzing
spatial/regional patterns, examining potential contributing factors to economic
development.