Comments on: (Update) Lee Jong-seok slams Bank of Korea (and CIA) estimates of North Korean economy http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/ News and analysis of the North Korean economy Sat, 22 Nov 2008 13:01:49 +0000 http://wordpress.org/?v=2.3.2 By: North Korean Economy Watch » Blog Archive » What comes after Sunshine? http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-100989 North Korean Economy Watch » Blog Archive » What comes after Sunshine? Wed, 27 Aug 2008 13:01:35 +0000 http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-100989 [...] DPRK’s current per capita income is close to $1,000, which is a wild over statement.  Some more realistic assesments put it as low as $368 per year.  Here is a wrap up of the DPRK’s most recent economic stats from the Bank of [...] […] DPRK’s current per capita income is close to $1,000, which is a wild over statement.  Some more realistic assesments put it as low as $368 per year.  Here is a wrap up of the DPRK’s most recent economic stats from the Bank of […]

]]> By: North Korean Economy Watch » Blog Archive » DPRK economy shrinks for second year: Bank of Korea http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-75107 North Korean Economy Watch » Blog Archive » DPRK economy shrinks for second year: Bank of Korea Wed, 18 Jun 2008 03:34:27 +0000 http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-75107 [...] North Korea does not publish economic data.  The size of North Korea’s economy is estimated by South Korea’s Central Bank (Bank of Korea), the US Central Intelligence Agency (CIA), and other think tanks such as the Sejong Institute (Lee Jong Seok).  [...] […] North Korea does not publish economic data.  The size of North Korea’s economy is estimated by South Korea’s Central Bank (Bank of Korea), the US Central Intelligence Agency (CIA), and other think tanks such as the Sejong Institute (Lee Jong Seok).  […]

]]> By: Werner Koidl http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-42276 Werner Koidl Thu, 13 Mar 2008 09:26:32 +0000 http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-42276 You asked: "So my quesiton is this… If GDP is unchanged, how do you increase per capita GDP without reducing the population numbers?" The CIA-factbook itself tries to explain why $40billion: "$40 billion note: North Korea does not publish any reliable National Income Accounts data; the datum shown here is derived from purchasing power parity (PPP) GDP estimates for North Korea that were made by Angus MADDISON in a study conducted for the OECD; his figure for 1999 was extrapolated to 2007 using estimated real growth rates for North Korea's GDP and an inflation factor based on the US GDP deflator; the result was rounded to the nearest $10 billion (2007 est.)" Thus, in 1999 the GDP was estimated, extrapolated over 8 years to 2007 and then rounded up to the nearest $10 billion !! Seems to be an correct mathematical exercise, but thats it ?! You asked: “So my quesiton is this…
If GDP is unchanged, how do you increase per capita GDP without reducing the population numbers?”

The CIA-factbook itself tries to explain why $40billion:

“$40 billion
note: North Korea does not publish any reliable National Income Accounts data; the datum shown here is derived from purchasing power parity (PPP) GDP estimates for North Korea that were made by Angus MADDISON in a study conducted for the OECD; his figure for 1999 was extrapolated to 2007 using estimated real growth rates for North Korea’s GDP and an inflation factor based on the US GDP deflator; the result was rounded to the nearest $10 billion (2007 est.)”

Thus, in 1999 the GDP was estimated, extrapolated over 8 years to 2007 and then rounded up to the nearest $10 billion !!
Seems to be an correct mathematical exercise, but thats it ?!

]]> By: Leonid Petrov http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-41441 Leonid Petrov Mon, 10 Mar 2008 17:35:23 +0000 http://www.nkeconwatch.com/2008/03/12/lee-jong-seok-slams-bank-of-korea-estimates-of-north-korean-economy/#comment-41441 Per-capita GNI at $368 to $389 seems to be right. It's approximately 1/3 of the Soviet figure by the time it collapsed (around $1000 per-capita). These days North Koreans still live poorer than people in the USSR. Per-capita GNI at $368 to $389 seems to be right. It’s approximately 1/3 of the Soviet figure by the time it collapsed (around $1000 per-capita). These days North Koreans still live poorer than people in the USSR.

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