Social spending in Korea :: can it foster sustainable and inclusive growth /

Going forward, Korea faces two closely related challenges: sustaining economic growth against the backdrop of a rapidly aging population and ameliorating income inequality. This paper argues that a gradual increase in social spending could promote more sustainable and inclusive growth in Korea. In p...

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Bibliographische Detailangaben
1. Verfasser: Elekdag, Selim
Körperschaft: International Monetary Fund. Asia and Pacific Department
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: [Washington, D.C.] : International Monetary Fund, ©2012.
Schriftenreihe:IMF working paper ; WP/12/250.
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Zusammenfassung:Going forward, Korea faces two closely related challenges: sustaining economic growth against the backdrop of a rapidly aging population and ameliorating income inequality. This paper argues that a gradual increase in social spending could promote more sustainable and inclusive growth in Korea. In particular, simulation results suggest that social spending which supports labor market reforms can boost longer-term growth. However, despite rapid increases recently--albeit from a low base--there is still a social spending gap relative to Korea's OECD peers. Because of several fiscal challenges in the coming decades, increases in social spending should be incremental, and would be usefully guided by a longer-term fiscal framework.
Beschreibung:Title from PDF title page (IMF Web site, viewed October 25, 2012).
"Asia and Pacific Department."
"October 17, 2012."
Beschreibung:1 online resource (21 pages)
Bibliographie:Includes bibliographical references.
ISBN:9781475532586
147553258X

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