Title: Budget Formulation and Implementation in Korea: A Macroeconomic Perspective
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.
Publication Year: 2003
Publication Date: 2003-03-01
Language: en
Type: article
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Cited By Count: 2
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