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Korea's challenges ahead : lessons from Japan's experience

Zoli, Edda - 2017

This paper draws out the parallels between Korea and Japan in terms of demographics, potential growth, balance sheets …, asset prices and inflation. Korea's demographic trends seem to track Japan's with a lag of about 20 years. Low productivity … reforms. While Korea's corporate balance sheets are stronger than Japan's in the early 1990s, Korea needs to progress with the …

Persistent link: https://www.econbiz.de/10011716396

How can Korea Boost Potential Output to Ensure Continued Income Convergence?

Jain Chandra, Sonali - 2014

Korea’s rapid growth has slowed in recent years, suggesting lower potential growth. This paper uses an array of techniques, including statistical filters, a multivariate model and the production function, to estimate Korea’s potential growth. The main finding is that trend growth has fallen...

Persistent link: https://www.econbiz.de/10014411160

Public Investment as an Engine of Growth

Warner, Andrew M. - 2014

This paper looks at the empirical record whether big infrastructure and public capital drives have succeeded in accelerating economic growth in low-income countries. It looks at big long-lasting drives in public capital spending, as these were arguably clear and exogenous policy decisions. On...

Persistent link: https://www.econbiz.de/10014411432

Social Spending in Korea : Can it Foster Sustainable and Inclusive Growth?

Elekdaǧ, Selim Ali - 2012

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....

Persistent link: https://www.econbiz.de/10014395619

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

Elekdaǧ, Selim Ali - 2012

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

A new strategy for Korea’s fiscal policy in a low growth environment

Zoli, Edda; Wang, Hou; Laxton, Douglas; Mursula, Susanna; … - 2018

Adverse demographics and other structural weaknesses impinge on Korea's long-term fiscal outlook and potential growth. Moreover, inadequate social protection is creating poverty and dampening consumption. The paper presents projections of Korea's fiscal outlook, using new estimates of potential...

Persistent link: https://www.econbiz.de/10011852539

Korea's paradigm shift for sustainable and inclusive growth : a proposal

Byeon, Yangkyoon; Choi, Kwanghae; Choi, Heenam; Kim, Jun-il - 2017

Korea is facing mounting economic challenges. Productivity growth has been on a trend decline amid demographic headwinds, while the societal demand for inclusive growth has been on a steep rise. Furthermore, the government-led unbalanced growth model-which served Korea well in the past-has...

Persistent link: https://www.econbiz.de/10011799650

Public investment as an engine of growth

Warner, Andrew M. - 2014

Persistent link: https://www.econbiz.de/10010441751

Korea's growth prospects : overcoming demographics and COVID-19

Swiston, Andrew - 2021

Korea's economy has leaped to high-income status thanks to several decades of sustained high growth. However, population aging and shifts in global demand provide headwinds for future growth and Korea now faces the effects of COVID-19 on economic activity. This paper asseses the expected drag on...

Persistent link: https://www.econbiz.de/10012604751

Health spending in Japan : macro-fiscal implications and reform options

Nozaki, Masahiro; Kashiwase, Kenichiro; Saito, Ikuo - 2014

Health spending has risen rapidly in Japan. We find two-thirds of the spending increase over 1990–2011 resulted from … increase of 2–3 percentage points of GDP. This will require a sizable increase in government transfers. Japan can introduce …

Persistent link: https://www.econbiz.de/10012671842