Social spending in Korea : can it foster sustainable and inclusive growth?

Selim Elekdag

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 t

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Year of publication:	2012
Authors:	Elekdaǧ, Selim Ali
Publisher:	Washington, DC : Internat. Monetary Fund
Subject:	Wirtschaftswachstum \| Economic growth \| Nachhaltige Entwicklung \| Sustainable development \| Einkommensverteilung \| Income distribution \| Öffentliche Sozialausgaben \| Public social expenditure \| Südkorea \| South Korea

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Extent:	Online-Ressource (PDF-Datei: 20 S., 1,195 KB) graph. Darst.
Series:	IMF working papers. - Washington, DC : IMF, ZDB-ID 2108494-4. - Vol. 12/250 IMF Working Papers
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Includes bibliographical references Systemvoraussetzungen: Acrobat Reader 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 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 Electronic reproduction; Available via World Wide Web
ISBN:	978-1-4755-4921-8 ; 978-1-4755-4921-8
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009659803