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재정건전성을 위한 지출 및 채무 제한제도 도입에 관한 연구(A study on the introduction of expenditure and debt rule for fiscal sustainability in Korea)

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Title 재정건전성을 위한 지출 및 채무 제한제도 도입에 관한 연구(A study on the introduction of expenditure and debt rule for fiscal sustainability in Korea)
Similar Titles
Material Type Reports
Author(Korean)

권오성

Publisher

서울:한국행정연구원

Date 2013-12
Series Title; No KIPA 연구보고서 / 2013-30
Pages 177
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Holding 한국행정연구원

Abstract

Maintaining fiscal discipline is essential to maintaining macroeconomic stability, reducing vulnerabilities, and improving aggregate economic performance. For macroeconomic growth, excessive government borrowing and increasing national debt should be avoided. Fiscal discipline becomes an important measure to keep fiscal sustainability. Current fiscal health of Korea is relatively fair in comparison with other OECD countries. In the near future, however, several contingencies such as an increase in welfare spending, aged society, unpredictable global economy, reunification in the Korean peninsular and so forth are anticipated to worsen the fiscal health. Therefore, Korea should secure fiscal discipline which acts as a buffer against those fiscal crises. (The rest omitted)