Sustainability and efficiency in managing public expenditures
By: edited by Richard Hemming, Jay-Hyung Kim, Sang-Hyop Lee
Contributors: Han'guk Kaebal Yŏn'guwŏn; East-West Center
Series: Korea Development Institute and East-West Center series; Korea Development Institute and East-West Center series
Publisher: Korea Development Institute
Published: 2012
Place of publication: Seoul, Korea
Language: eng
Number of pages: 328
ISBN-13: 9788980637010
Subjects: Public Finance; Budget; Planning; Public Expenditures
Description: Public spending is a critical element in national development. The outcomes of public spending can be short-sighted and inefficient, however, unless a sound management system and related policies for public expenditures are in place. Fiscal rules, performance management, and institutional arrangements are critical for ensuring efficiency and for meeting medium- and long-term challenges. The ultimate goal is to make public spending sustainable. The authors of this volume compare fiscal rules, fiscal risks, and well-designed expenditure-management policies in numerous developed countries. In the case of Korea, important lessons emerge from achievements during the past two decades, particularly in performance standards, feasibility valuations, and monitoring. The authors also review the recent trend of private-sector involvement in services formerly provided by governments. They examine whether such arrangements provide public services efficiently, and also question whether, in some cases, they deliver less than they promise.
Notes: Includes bibliographical references.
Table of contents: title: 1. Introduction and overview / Richard Hemming, Jay-Hyung Kim, Sang-Hyop Lee; title: 2. Sustainability of public debt and expenditure: the case of Korea / Joonhyuk Song; title: 3. Assessing a government's exposure to fiscal risk / Peter S. Heller; title: 4. Ensuring fiscal sustainability: which role for fiscal rules? the experience of European countries / Daniele Franco, Stefania Zotteri; title: 5. Public investment management: institutional arrangements for an effective budget process; title: 6. Of mountains and molehills: "the" medium-term expenditure framework / Salvatore Schiavo-Campo; title: 7. Performance budgeting / Marc Robinson; title: 8. Measuring the efficiency of public expenditure: evaluation of the government program in Korea / Ki-Wan Kim, Jungho Kim; title: 9. Korea's national pension scheme: an assessment of sustainability and efficiency after the 2007 reform / Hyungpyo Moon; title: 10. A safeguard ceiling for fiscal commitment in Korean public-private partnerships / Jay-Hyung Kim; title: 11. Private participation in infrastructure and the macroeconomy: the experience of Korea / Hangyong Lee, Changyong Rhee; title: 12. Controlling fiscal risks / Murray Petrie.