| Description |
1 online resource (21 pages) |
| Series |
IMF working paper ; WP/12/250 |
|
IMF working paper ; WP/12/250.
|
| Contents |
Cover; Contents; I. Introduction; II. Social Spending and Economic Growth; Figures; 1. Real GDP Growth; 2. Population Projections; 3. Female Labor Force Participation Rates; 4. OECD: Temporary Employment; III. How Can Social Spending Promote Sustainable Growth?; 5. Service Sector Productivity Relative to Manufacturing in 2007; Tables; 1. Output Gains From Social Spending-Induced Labor Market Reforms; IV. Social Spending and Inclusive Growth; 6. OECD: Gini Coefficients and Relative Poverty Rates; 7. Income Inequality Indicators; 8. Unemployment Rates; 9. Social Spending Trends |
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10. OECD: Social Spending in 200711. OECD: Social Spending Categories in 2007; 2. Social Spending Gap; 12. Selected Indicators Influencing the Social Spending Gap; V. Policy Implications; VI. Conclusion; Appendix; References |
| Summary |
Going forward, Korea faces two closely related challenges: sustaining economic growth against the backdrop of a rapidly aging population and ameliorating income inequality. This paper argues that a gradual increase in social spending could promote more sustainable and inclusive growth in Korea. In particular, simulation results suggest that social spending which supports labor market reforms can boost longer-term growth. However, despite rapid increases recently--albeit from a low base--there is still a social spending gap relative to Korea's OECD peers. Because of several fiscal challenges in the coming decades, increases in social spending should be incremental, and would be usefully guided by a longer-term fiscal framework |
| Notes |
Title from PDF title page (IMF Web site, viewed October 25, 2012) |
| Bibliography |
Includes bibliographical references |
| Notes |
"Asia and Pacific Department." |
|
"October 17, 2012." |
| Subject |
Government spending policy -- Korea (South)
|
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Human services -- Korea (South) -- Finance
|
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BUSINESS & ECONOMICS -- Economics -- Macroeconomics.
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POLITICAL SCIENCE -- Economic Conditions.
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Government spending policy
|
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Human services -- Finance
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Social policy
|
| SUBJECT |
Korea (South) -- Social policy
|
| Subject |
Korea (South)
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. Asia and Pacific Department.
|
| ISBN |
9781475532586 |
|
147553258X |
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