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Why and How Estimates of North Korean GDP by the Bank of Korea Are Deceptive

20241127

상세내역
저자 38 North
소속 및 직함 Chan Young Bang
발행기관 https://www.38north.org/2024/11/why-and-how-estimates-of-north-korean-gdp-by-the-bank-of-korea-are-deceptive/
권호사항
수록페이지 범위 및 쪽수
발행 시기 년
키워드 #한국은행   #경제   #지출   #GDP   #국내총생산   #소득
조회수 98
원문보기
상세내역
초록
The most commonly used indicator to gauge a country’s economic capacity and well-being is Gross Domestic Product (GDP). GDP is defined as “the market value of all final goods and services produced within a country in a given period.” It measures the flow of money based on transactions in a market economy, where income and expenditure should be equal. In the case of the Democratic People’s Republic of Korea (DPRK or North Korea), the Bank of Korea’s (BOK) estimates are the most widely cited metrics by international organizations and policy actors when assessing the DPRK’s economic situation. However, these numbers can be deceptive as the BOK uses the production approach to estimate North Korea’s GDP, which does not reflect its actual economic situation.
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