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Performance budgeting in OECD countries : Korea

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Title Performance budgeting in OECD countries
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Sub Title

Korea

Material Type Reports
Author(English)

OECD

Publisher

[Paris]:OECD

Date 2007
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link

Abstract

Korea has recently launched a reform to introduce performance-based budgeting into government. What makes the Korean case particularly interesting is the speed with which the government has ushered in a performance management system, and the fact that other budgetary reforms of similar magnitude are being pursued concurrently with equal zeal as part of a comprehensive fiscal reform package, known as the Four Major Fiscal Reforms. One advantage of such a multi-pronged effort is that, if co-ordinated properly, it ensures that an exceptionally favourable background is set for building up an effective performance management system. The downside to such an approach is that it demands a level of commitment in terms of both political willpower and material resources that may not be readily feasible in many countries.