Enhancing accountability of Korea’s government funds system through consolidated management of surplus money in budget-type funds

Yongok Choi

Chapter 4 in Fiscal Accountability and Population Aging, 2021, pp 73-92 from Edward Elgar Publishing

Abstract: This chapter analyzes Korea’s government fund system in terms of fiscal accountability and ways to improve it. Accountability goals are not properly established; accounting is undertaken on each fund separately, thus comparable information to evaluate expenditure cannot be generated; and there are several cases where surplus funds are used as pocket money by government departments. These problems can be alleviated through integrated management of surplus money from budget-type funds. This study empirically shows that the efficiency of national finances can be improved through the consolidated management of surplus money from budget-type funds.

Keywords: Asian Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2021
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