Legal and institutional frameworks of PEM(Public Expenditure Management) in Korea do not have evolved over the decades of the rapid-high economic development. Since the serious economic crisis in 1997, Korean government has begun to focus very ardently at reforming its government systems. Korean government is now facing the challenge of improving fiscal discipline, bringing resource allocation in line with development priorities, creating an enabling environment for public financial managers, and protecting due process.
The study aims to suggest several policy initiatives which guide Korean government in reengineering the institutional arrangements that affect incentives for better budgetary outcomes, including mechanisms that improve aggregate fiscal discipline, strategic prioritization and operational efficiency. The suggestions made in the study are based on new approaches to public sector management which seek to introduce the market mechanism and business-oriented techniques in the name of new public management. The suggestions for increasing transparency, effectiveness and soundness in the PEM process are summarized as follows. (The rest omitted)
- 재정개혁의 목표와 과제(Institutional reform for improving public expenditure management in Korea)
재정개혁의 목표와 과제(Institutional reform for improving public expenditure management in Korea)
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Economic Administration|