Budget Formulation and Implementation in Korea: A Macroeconomic Perspective
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.
|Date of creation:||Mar 2003|
|Date of revision:|
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- 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-, February.
- 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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