Republic of Korea; 2002 Article IV Consultation-Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Korea
This 2002 Article IV Consultation highlights that the economic growth of Korea rose to about 6 percent in 2002 from 3 percent in 2001. Buoyant consumption and residential construction spending underpinned the recovery beginning in late 2001. In 2002, exports rebounded strongly in spite of a weaker-than-expected recovery in the global economy. Unemployment has eased to near pre-crisis levels, although wage rises have been matched by productivity growth. In terms of macroeconomic policies, the fiscal surplus was substantially higher than budgeted, resulting in a contractionary fiscal stance in 2002.
Saved in:
freely available
Saved in favorites
Similar items by subject
-
Economic Growth and Integration in Central America
Schipke, Alfred, (2007)
-
Capital Account Liberalization and Financial Sector Stability
(2002)
-
(2007)
- More ...
Similar items by person
-
(2012)
-
(2011)
-
(2011)
- More ...