| Autor: |
Elekdag, Selim, International Monetary Fund |
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| Kategorie: |
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| Popis: |
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. |
| Databáze: |
eBook Collection (EBSCOhost) |
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