Korea’s Paradigm Shift for Sustainable and Inclusive Growth: A Proposal - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Korea’s Paradigm Shift for Sustainable and Inclusive Growth: A Proposal write by Yangkyoon Byeon. This book was released on 2017-11-17. Korea’s Paradigm Shift for Sustainable and Inclusive Growth: A Proposal available in PDF, EPUB and Kindle. 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.
Korea's Paradigm Shift for Sustainable and Inclusive Growth
Korea's Paradigm Shift for Sustainable and Inclusive Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Korea's Paradigm Shift for Sustainable and Inclusive Growth write by . This book was released on 2017. Korea's Paradigm Shift for Sustainable and Inclusive Growth available in PDF, EPUB and Kindle. 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.
Growth in a Time of Change
Growth in a Time of Change - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Growth in a Time of Change write by Hyeon-Wook Kim. This book was released on 2020-02-25. Growth in a Time of Change available in PDF, EPUB and Kindle. Growth in a Time of Change: Global and Country Perspectives on a New Agenda is the first of a two-book research project that addresses new issues and challenges for economic growth arising from ongoing significant change in the world economy, focusing especially on technological transformation. The project is a collaboration between the Brookings Institution and the Korea Development Institute. Part I of the book looks at key elements of change from a global perspective. It analyzes how technological change, shifts in investment, and demographic transition are affecting potential economic growth globally and across major groups of economies. The contributors explore possible scenarios for the global economy as the digital revolution drives rapid technological change, including impacts on growth, jobs, income distribution, trade balances, and capital flows. Technology is changing the global configuration of comparative advantage and globalization increasingly has a digital dimension. The implications of these developments for the future of sectors such as manufacturing and for international trade are assessed. Part II of the book addresses new issues in the growth agenda from the perspective of an individual major economy: South Korea. The chapters in this section analyze how macroeconomic developments and technological change are influencing the behavior of households and firms in terms of their decisions to consume, save, and invest. Rising income and wealth inequalities are a major concern globally. Against this backdrop, trends in the labor income share and wage inequalities in South Korea are analyzed in terms of the role played by technology, industrial concentration, shifts in labor demand and supply, and other factors. Throughout the book, the contributors, in their analysis of both global and Korea-specific trends and prospects, place emphasis on drawing implications for policy.
OECD Economic Surveys: Korea 2018
OECD Economic Surveys: Korea 2018 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook OECD Economic Surveys: Korea 2018 write by OECD. This book was released on 2018-06-20. OECD Economic Surveys: Korea 2018 available in PDF, EPUB and Kindle. Economic growth picked up in 2017, but reforms are needed to sustain Korea's convergence toward the income levels in the most advanced countries. Its labour productivity is 46% below the top half of OECD countries, reflecting problems in the service sector. In addition, productivity in small ...
Labor Market Duality in Korea
Labor Market Duality in Korea - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Labor Market Duality in Korea write by Johanna Schauer. This book was released on 2018-06-01. Labor Market Duality in Korea available in PDF, EPUB and Kindle. Labor market duality is a complex and critical issue for many countries that can lower productivity, contribute to inequality and result in negative externalities. In this paper, I study duality in the Korean labor market and analyze its sources and potential policy options. I find that employment protection legislations and large productivity differentials are the key drivers of Korea’s duality. In addition, applying a general equilibrium search-and-matching model and calibrating it to the Korean economy, I show that well-calibrated flexicurity policies can significantly reduce duality and inequality and raise welfare and productivity. Notably, the introduction of all three pillars—flexiblity, a strong safety net and active labor market policies—is critical for its success. If only one pillar is introduced it can result in negative side-effects and might not reduce duality.
