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Sanctioning North Korea: The Political Economy of Denuclearization and Proliferation

Author

Listed:
  • Stephan Haggard

    (University of California, San Diego Graduate School of International Relations and Pacific Studies)

  • Marcus Noland

    (Peterson Institute for International Economics)

Abstract
As a small country dependent on foreign trade and investment, North Korea should be highly vulnerable to external economic pressure. In June 2009, following North Korea's second nuclear test, the UN Security Council passed Resolution 1874, broadening existing economic sanctions and tightening their enforcement. However, an unintended consequence of the nuclear crisis has been to push North Korea into closer economic relations with China and other trading partners that show little interest in cooperating with international efforts to pressure North Korea, let alone in supporting sanctions. North Korea appears to have rearranged its external economic relations to reduce any impact that traditional sanctions could have. Given the extremely high priority the North Korean regime places on its military capacity, it is unlikely that the pressure the world can bring to bear on North Korea will be sufficient to induce the country to surrender its nuclear weapons. The promise of lifting existing sanctions may provide one incentive for a successor government to reassess the country's military and diplomatic positions, but sanctions alone are unlikely to have a strong effect in the short run. Yet the United States and other countries can still exercise some leverage if they aggressively pursue North Korea's international financial intermediaries as they have done at times in the past.

Suggested Citation

  • Stephan Haggard & Marcus Noland, 2009. "Sanctioning North Korea: The Political Economy of Denuclearization and Proliferation," Working Paper Series WP09-4, Peterson Institute for International Economics.
    • Handle: RePEc:iie:wpaper:wp09-4
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    File URL: https://www.piie.com/publications/working-papers/sanctioning-north-korea-political-economy-denuclearization-and
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    Citations

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    Cited by:

    1. Hanhee Lee, 2015. "Foreign Direct Investment In North Korea And The Effect Of Special Economic Zones: Learning From Transition Economies," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 40(2), pages 35-56, June.

    More about this item

    Keywords

    sanctions; North Korea; nuclear weapons;
    All these keywords.

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid
    • P30 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - General

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