South Korea

South Korea’s score on the Open Budget Index shows that the government provides the public with substantial information on the central government’s budget and financial activities during the course of the budget year. This gives citizens tools to hold government accountable for its management of the public’s money.

Minding the Gaps: Integrating Poverty Reduction Strategies and Budgets for Domestic Accountability

This study offers practical insights for donors and national governments on how to strengthen the links between poverty reduction strategies (PRSs) and national budgets, with a view to improving domestic accountability. It aims to answer the following questions: What challenges have arisen in countries where efforts have been made to integrate the PRS with the budget? What lessons have been generated by these experiences and what are the potential entry points for reforms to strengthen PRS-budget links? To answer these questions, the study reviews a series of case studies that document the status of budget and PRS integration in nine low-income countries — Albania, Burkina Faso, Madagascar, Malawi, Mali, Mozambique, Rwanda, Tanzania, and Uganda — and the links between policies, budgets, and service delivery in four higher-income countries that are internationally considered to be successful reformers in public financial management — Australia, Chile, Republic of Korea, and South Africa.

The Viability of Fiscal Policy in South Korea, Taiwan, and Thailand

This paper offers an analysis of the impact of neo-Keynesian policies in three Asian Tigers in the aftermath of the 1997 financial crisis. Using sophisticated statistical techniques applied to data on taxes, spending, and income the authors seek to evaluate the viability of expansionary fiscal policy to stimulate growth.