05524oam 22012734 450 991081065940332120240402045711.01-4755-8796-11-4755-3258-X1-283-86683-81-4755-8832-1(CKB)2550000000709418(EBL)1607027(SSID)ssj0000943245(PQKBManifestationID)11515179(PQKBTitleCode)TC0000943245(PQKBWorkID)10977206(PQKB)10803126(MiAaPQ)EBC1607027(Au-PeEL)EBL1607027(CaPaEBR)ebr10635341(CaONFJC)MIL417933(OCoLC)870245078(IMF)WPIEE2012250(IMF)WPIEA2012250(EXLCZ)99255000000070941820020129d2012 uf 0engur|n|---|||||txtccrSocial Spending in Korea : Can it Foster Sustainable and Inclusive Growth? /Selim Elekdag1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (22 p.)IMF Working PapersIMF working paper ;WP/12/250Description based upon print version of record.1-4755-4921-0 Includes bibliographical references.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 Trends10. 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; ReferencesGoing 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.IMF Working Papers; Working Paper ;No. 2012/250Human servicesKoreaLaborimfMacroeconomicsimfDemographyimfAggregate Factor Income DistributionimfDemand and Supply of Labor: GeneralimfPersonal Income, Wealth, and Their DistributionsimfEconomic Growth and Aggregate Productivity: GeneralimfEconomics of the ElderlyimfEconomics of the HandicappedimfNon-labor Market DiscriminationimfLabourimfincome economicsimfEconomic growthimfPopulation & demographyimfIncome inequalityimfLabor marketsimfPersonal incomeimfInclusive growthimfAgingimfNational accountsimfPopulation and demographicsimfIncome distributionimfLabor marketimfIncomeimfEconomic developmentimfPopulation agingimfKoreaEconomic conditionsKorea, Republic ofimfHuman servicesLaborMacroeconomicsDemographyAggregate Factor Income DistributionDemand and Supply of Labor: GeneralPersonal Income, Wealth, and Their DistributionsEconomic Growth and Aggregate Productivity: GeneralEconomics of the ElderlyEconomics of the HandicappedNon-labor Market DiscriminationLabourincome economicsEconomic growthPopulation & demographyIncome inequalityLabor marketsPersonal incomeInclusive growthAgingNational accountsPopulation and demographicsIncome distributionLabor marketIncomeEconomic developmentPopulation aging338.1270Elekdag Selim1104193International Monetary Fund.DcWaIMFBOOK9910810659403321Social Spending in Korea4027088UNINA