Experiences with Monetary Integration and Lessons for Korean Unification

May 1, 1997

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Format: Chicago

Goohoon Kwon. Experiences with Monetary Integration and Lessons for Korean Unification, (USA: International Monetary Fund, 1997) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper discusses the timing of monetary integration and supporting economic policies during a rapid and largely uncontrolled process of Korean unification. The paper concludes that the transitory use of a separate currency in each region and supporting economic policies would help limit the initial costs of unification although the extent of the eventual cost reduction would depend critically on the success of ensuing economic reforms in the North during the transition. Maintaining the competitiveness of the northern economy would need to be a primary policy objective in the case of an early introduction of a common currency.

Subject: Economic integration, Foreign exchange, Labor, Money, National accounts

Keywords: Baltics, Common currency, Country, Currencies, Currency, Currency conversion, Currency system, Economy, Enterprise, Exchange rates, Government, Income, Market economy, Monetary unions, Monetary unit, Trade monopoly, Wages, WP

Publication Details

Pages:

35
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1997/065
Stock No:

WPIEA0651997
ISBN:

9781451962635
ISSN:

1018-5941

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