Korea’s Reunification and Financial Policy Tasks – 3 Financial Policy Upon Economic Integration

Standard

Main tasks for successful economic integration can be divided into 3 stages: Development, Implementation, and Integration.

In ‘Development’ stage, the main objective is to create a firm foundation for sustainable growth. We need to select and develop promising industries, re-establish railroad and harbor, open markets, and develop natural resources.

Implementing core system for market economy system will be the main challenge in ‘Implementation’ stage. It includes liberalizing price, privatizing properties, and adopting market system.

Lastly, in ‘Integration’ stage, the two different economic systems will be finally integrated. To do so, we need to integrate legislative system, infrastructure, and markets altogether.

55

It is also very important to study and benchmark successful cases of economic integration outside of Korea.

66

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s