For spatial data with a sufficiently long time dimension, the concept of global cointegration has been recently included in the econometrics research agenda. Global cointegration arises when non-stationary time series are cointegrated both within and between spatial units. In this paper, we...

The purpose of this paper is to estimate impacts of core infrastructure investments in North Korea on South and North Koreas. The investment expenditures of core infrastructure projects in North Korea are calibrated as 9.35 billion US$ including highway, railroad and industrial complex. Since...

Based on the gravity model of international trade, this paper initially analyzes North Korea's international trade pattern, which tends to follow the prediction of the gravity model: a positive relationship between trade and trading partners' GDP, and negative relationship between trade and...