You are looking at 1 - 2 of 2 items

  • Author or Editor: Chang Woon Nam x
Clear All Modify Search
You do not have access to this content

Peter Friedrich and Chang Woon Nam

You do not have access to this content

Peter Friedrich and Chang Woon Nam

Following a brief assessment of the ways and extents to which existing economic theories explain the decline of a nation, a region and a city, this chapter highlights the urgent need for more intensive research related to the regional and urban decline process. Backed by the theory of development stages and taking into consideration the economic and structural situation as well as infrastructure endowment, the establishment of a free economic area (FEA) equipped with an appropriate economic policy-mix appears to be one of the effective intervention measures to overcome regional economic decline and to create the nationwide growth externalities. Yet the North Korean experience demonstrates that its success can also strongly depend on some additional factors, such as institutional framework, political control, freedom of decision-making and negotiation, geographic location and competitive environment of FEA.