Budget Formulation and Implementation in Korea: A Macroeconomic Perspective

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.

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Year of publication:	2003-03
Authors:	He, Dong

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Type of publication:	Book / Working Paper
Language:	English
Notes:	He, Dong (2003): Budget Formulation and Implementation in Korea: A Macroeconomic Perspective. Published in: Republic of Korea: Selected Issues No. IMF Country Report No. 03/80 (March 2003)
Classification:	E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination
Source:	BASE

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