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Budget Formulation and Implementation in Korea: A Macroeconomic Perspective

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  • He, Dong
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Abstract

This paper describes the main featues of the Korean fiscal system from a macroeconomic perspective. It discusses why fiscal outtrns tend to differ from the budget and makes suggestions to improve budget formulation and implementation. It also discusses how medium-term fiscal objectives such as maintaining a balanced budget and reducing public debt can be reconciled with the short-term objective of avoiding procyclical fiscal impulses in a downtun.

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File URL: http://mpra.ub.uni-muenchen.de/9756/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 9756.

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Date of creation: Mar 2003
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Handle: RePEc:pra:mprapa:9756

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  1. Peter S. Heller, 2002. "Considering the IMF's Perspective on a 'Sound Fiscal Policy'," IMF Policy Discussion Papers 02/08, International Monetary Fund.
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Cited by:
  1. Dong He, 2004. "The Role of KAMCO in Resolving Nonperforming Loans in the Republic of Korea," IMF Working Papers 04/172, International Monetary Fund.

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