Korea's Paradigm Shift for Sustainable and Inclusive Growth : A Proposal /

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 become le...

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Detalles Bibliográficos
Autor Principal: Byeon, Yangkyoon
Outros autores: Choi, Heenam, Choi, Kwanghae, Kim, Jun
Formato: Revista
Idioma:English
Publicado: Washington, D.C. : International Monetary Fund, 2017.
Series:IMF Working Papers; Working Paper ; No. 2017/260
Acceso en liña:Full text available on IMF
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100 1 |a Byeon, Yangkyoon. 
245 1 0 |a Korea's Paradigm Shift for Sustainable and Inclusive Growth :   |b A Proposal /  |c Yangkyoon Byeon, Kwanghae Choi, Heenam Choi, Jun Kim. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2017. 
300 |a 1 online resource (41 pages) 
490 1 |a IMF Working Papers 
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520 3 |a 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 become less effective and politically palatable in recent years. As such, Korea needs a major paradigm shift to embark on a new sustainable and inclusive growth path. But policy response has been modest at best with no major reforms being implemented over the past two decades. We propose a paradigm shift in Korea's economic framework, involving a simultaneous big push for greater economic freedom and stronger social protection within the parameters set by long-run fiscal sustainability. We also provide a detailed account of structural reforms to boost economic freedom and sustainable funding plans for stronger social protection. 
538 |a Mode of access: Internet 
700 1 |a Choi, Heenam. 
700 1 |a Choi, Kwanghae. 
700 1 |a Kim, Jun. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2017/260 
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