Budget Formulation and Implementation in Korea: A Macroeconomic Perspective

Dong He

MPRA Paper from University Library of Munich, Germany

Abstract: This paper describes the main featues of the Korean fiscal system from a macroeconomic perspective. It discusses why fiscal outtrns tend to differ from the budget and makes suggestions to improve budget formulation and implementation. It also discusses how medium-term fiscal objectives such as maintaining a balanced budget and reducing public debt can be reconciled with the short-term objective of avoiding procyclical fiscal impulses in a downtun.

JEL-codes: E61 E62 (search for similar items in EconPapers)
Date: 2003-03
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:9756

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