The difference between per capita GDP in North Korea and South Korea is due to:

Question

Quizplus · Accepted Answer

The difference between per capita GDP in North Korea and South Korea is mainly due to institutional differences between the two countries. North Korea has a centralized, planned economy that is largely closed off from the rest of the world, while South Korea has a more open, market-oriented economy. This has led to significant differences in economic development and prosperity between the two countries. While human capital and culture may also play a role, the institutional differences are the primary factor. Geography is not a significant factor in this case.

The Difference Between Per Capita GDP in North Korea and South