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EMBEDDED AND AUTONOMOUS MARKETS IN NORTH KOREA'S FISHING INDUSTRY: RESOURCE SCARCITY, MONITORING COSTS, AND EVOLVING INSTITUTIONS

Authors
Ward, PeterLankov, AndreiKim, Jiyoung
Issue Date
Mar-2021
Publisher
CAMBRIDGE UNIV PRESS
Keywords
North Korea; marketization; embeddedness; resource scarcity; monitoring costs; institutional evolution; fishing industry; case study
Citation
JOURNAL OF EAST ASIAN STUDIES, v.21, no.1, pp.53 - 74
Journal Title
JOURNAL OF EAST ASIAN STUDIES
Volume
21
Number
1
Start Page
53
End Page
74
URI
http://scholarworks.bwise.kr/ssu/handle/2018.sw.ssu/41189
DOI
10.1017/jea.2020.33
ISSN
1598-2408
Abstract
North Korea today is a most unusual post-socialist state. Market actors and market prices are integral to economic life, but private property remains illegal, and private enterprise outside the household is de jure non-existent. In such an institutional context, some market processes are more autonomous in relation to the state, while others are more embedded within state structures. In this article, we offer a theoretical account of the shape that North Korea's market economy has taken, developed from a set of fishing industry case studies. We note four broad categories of enterprises: closely embedded, loosely embedded, semi-autonomous, and autonomous. By relative autonomy/embeddedness we mean control over fixed assets, cash flow, and operational decisions such as wage and price setting. We postulate three major determinants of embeddedness/autonomy: (1) relative strategic resource scarcity between state and market actors, (2) monitoring costs, and (3) institutional evolution that reflects these realities, though to varying extents.
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Kim, Jiyoung
Presidential Organization (Institute for Korean Christian Culture)
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