Public Finance During the Korean Modernization Process

Public Finance During the Korean Modernization Process




This final volume in the series Studies in the Modernization of the Republic of Korea, 1945–1975, is an analysis of the contribution of tax and expenditure policy to Korea's rapid economic development during the 1953–1975 period. Based upon specially compiled and comprehensive revenue and expenditure data, the authors first trace the history of Korean fiscal policy during the modernization period and then examine how Korea's fiscal development has differed from that of other countries. The results of the analysis show that Korea did not follow the traditional path of a steadily increasing tax effort, reliance on direct taxes, and emphasis on income distribution. Instead, through improved tax administration and expenditure control, the savings rate was increased dramatically.

Product Details

ISBN-13: 9780674722330
Publisher: Harvard
Publication date: 05/12/1986
Series: Harvard East Asian Monographs , #107
Pages: 364
Product dimensions: 6.00(w) x 9.00(h) x (d)

Table of Contents

  • Foreword

  1. Budgetary Policies and Performance

    • Defining and Measuring the Korean Public Sector
    • Budgetary Performance
    • Economic Growth and Fiscal Policy: A Chronology
    • Summary

  2. Fiscal and Economic Development: Korean Versus Traditional Patterns

    • Taxable Capacity and Effort
    • Tax Structure
    • Expenditure and Share of GNP
    • The Composition of Expenditures
    • Conclusions

  3. The Development of the Korean Tax Structure

    • Evolution of the Tax System
    • Financing Patterns During the Modernization Period
    • Growth in the Tax Ratio
    • Tax Structure Changes
    • The Personal Income Tax
    • Corporation Income Tax
    • Commodity Taxes
    • Business Tax
    • Summary: Tax Policy and the Modernization Process

  4. Modernization and the Long-Term Growth of Korean Government Expenditures

    • Introduction
    • The Long-Term Growth of Government Expenditure
    • The Determinants of Expenditure Growth:
      Hypotheses And Evidence From Other Countries
    • The Determinants of Korean Expenditure Growth
    • A Time-Series Model
    • Conclusions

  5. The Distributional Effects of the Korean Budget

    • Fiscal Incidence Analysis: Is it Worth the Effort?
    • Assumptions and Methodology
    • Changes in Fiscal Structure
    • Distribution of Income
    • Allocation of Revenue Burdens by Income Class
    • Allocation of Expenditure Benefits by Income Class
    • Net Fiscal Incidence
    • Conclusions and Implications

  6. Korean Public Finances During Modernization: A Summing Up

    • The Supporting Role Of Budgetary Policy
    • Korean Fiscal Choices
    • The Setting For Korean Fiscal Choices

  • Appendix A
  • Appendix B
  • Notes
  • Bibliography
  • Index

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