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Budget Formulation and Implementation in Korea: A Macroeconomic Perspective

Author

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  • He, Dong

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.

Suggested Citation

  • He, Dong, 2003. "Budget Formulation and Implementation in Korea: A Macroeconomic Perspective," MPRA Paper 9756, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:9756
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    File URL: https://mpra.ub.uni-muenchen.de/9756/1/MPRA_paper_9756.pdf
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    References listed on IDEAS

    as
    1. Peter S. Heller, 2002. "Considering the IMF's Perspective on a "Sound Fiscal Policy"," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 59(1), pages 141-161, February.
    2. Mr. Nigel A Chalk, 2002. "Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy," IMF Working Papers 2002/101, International Monetary Fund.
    3. Mr. Peter S. Heller, 2002. "Considering the IMF's Perspective on a "Sound Fiscal Policy"," IMF Policy Discussion Papers 2002/008, International Monetary Fund.
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    Cited by:

    1. Mr. Dong He, 2004. "The Role of Kamco in Resolving Nonperforming Loans in the Republic of Korea," IMF Working Papers 2004/172, International Monetary Fund.

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    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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