Republic of Korea: Staff Report for the 2013 Article IV Consultation

International Monetary Fund

No 2014/101, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2013 Article IV Consultation highlights that the Republic of Korea has experienced impressive growth since the 1970s, enabling it to escape the middle-income trap. Policies should aim to tackle the weakness of domestic demand and counter forthcoming headwinds to potential growth. Korea is reaping the benefits of prudent macroeconomic management and financial moderation. The economy faces significant medium-term growth and inclusiveness challenges. Slow household income growth hinders stabilization in household debt and weighs on domestic demand, while services sector productivity is very low.

Keywords: ISCR; CR; debt; headline CPI inflation; GDP; December CPI release; authorities project; market intervention; headline PPI; financial market uncertainty; growth outlook; Income; Government finance statistics; Global (search for similar items in EconPapers)
Pages: 64
Date: 2014-04-17
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