Since the South-North Summit, financing North Koreas economic development has become a major issue for the future of economic cooperation between the two Koreas. In order to tackle more systematically the problem of financing the expenses and draw implications for Korea, this study analyzes the experiences of the countries that have attempted a transition to the market economy system such as China, Vietnam and East European countries. Having explored the possibility of applying the lessons from the cases, this study suggests concrete plans for North Korea based on its realities and circumstances.

In the case of China in raising economic development expense, it analyzes Chinese policies toward the introduction of foreign capital, focusing on the interactions and linkages among foreign capital, the reform and open-door policy, and development strategies during different periods. The analysis of foreign investment in China examines the degree of its influence on Chinese economic development. China's reform and open-door policies were promoted fradually, unlike the countries of the former Soviet Union and Eastern Europe and succeeded in inducing foreign capital by establishing the special economic zones and open economic areas mostly in costal areas.

In the case of foreign capital importation in Vietnam, it begins with an examination of Vietnam's foreign capital inducing strategy, focusing on the reform process and policies on foreign capital, and analyzes the actual cases of foreign investment in Vietnam. Vietnam has promoted a positive policy for foreign investment since the adoption of the reform and open-door policy in 1986. However, there are still many constraints on improving relations with international financial institutions and Western countries, especially because of the US-led economic sanctions. With Vietnam's withdrawal from Cambodia in 1989, however, the Western countries began their advance into Vietnam in earnest, and the United States resumed dialogues with Vietnam for a peace settlement in Cambodia and Indochina in August 1990. The level of economic sanctions has been lowered as the United States offered a timetable for the normalization of diplomatic relations with Vietnam under the condition that the American MIA issue be settled.

East European countries pursued an aggressive transition to a market economy in the late 1980s and have achieved positive results in economic reforms since the mid 1990s. In the cases of East European countries, it first examines the process and characteristics of the economic reforms in East European countries, and makes a generalization about the foreign capital importation policies adopted and carried out to finance the expenses for economic development. Based on the categories of foreign investment, foreign capital importation in each country is analyzed in a concrete way.
The countries in transition undergo a comparable process of economic transformation. The directions of reform, however, vary according to the specific conditions such as industrial structures and international dependency. There are also differences in the methods to attract foreign investment required for the economic transition. China, characterized by a low level of industrial development and abundant resources, pursued an aggressive policy to attract foreign capital by establishing special economic zones and open economic areas. In contrast, the resource-poor countries in Eastern Europe which had attained a high level of industrialization, attracted international public funds from the early stage by implementing the IMF restructuring programs. The cases suggest policy directions for North Korea regarding how it should finance the development funds needed for economic recovery or possible reform and opening.

The policy that North Korea currently employs in order to induce foreign investment is based on the establishment of special economic zones where the rules of a market system are allowed. The outcome, however, has been deplorable for the last eight years since the adoption of the policy. Considering the limited scope of overseas national capital inflows, in contrast to the large inflow of overseas Chinese capital invested in Chinas special economic zones, it is not advisable for North Korea to finance its development expenses through the special economic zones. It is more realistic to attract international public funds in the process of restructuring North Koreas overall economic system and establishing and applying nationwide the rules of a market economy.

서 언
국문요약

제1장 序論
1. 연구목적
2. 연구방법
3. 보고서의 구성

제2장 경제개발비용과 외자조달
1. 경제개발비용의 개념
2. 일반적 외자조달 형태

제3장 중국의 외자조달 사례
1. 중국의 경제개혁 과정과 특징
2. 외자도입정책
3. 외자도입 사례

제4장 베트남의 외자조달 사례
1. 베트남의 경제개혁 과정과 특징
2. 외자도입정책과 개발전략
3. 외자도입 사례

제5장 東유럽국의 외자조달 사례
1. 동유럽국의 경제개혁 과정과 특징
2. 외자도입정책
3. 외자도입사례

제6장 체제전환국의 개발재원 조달에 대한 평가
1. 체제전환의 유형과 재원조달방식의 관계
2. 체제전환의 초기조건과 재원조달의 관계

제7장 체제전환국의 해외재원조달 경험이 북한에 주는 시사점
1. 북한의 경제개발비용 조달에 있어서의 주요 쟁점
2. 북한의 경제개발비용 조달에 주는 시사점

참고문헌

Executive Summary