manufacturing sector is associated with a higher productivity growth in the whole economy. Meanwhile, the service sector expansion … diminish if such expansion is accompanied by higher productivity in the service sector. Thus it will be desirable to achieve a … sector, rather than merely by focusing on its expansion in size. To boost the productivity of the service sector, we need to …

English Abstract: This paper studies, from a quantity theory of money perspective, the reasons that North Korean … management of its exchange rate, using both domestic and foreign currencies in an analytic model based on the quantity theory of …

macroeconomic theory. The depreciation of the won after the currency crisis along with economic liberalization raised the relative …