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The Economy and the Social Security of the Swedish Model ‒ the characteristics and its implications on Korea ‒

Shim Jae Seung 1 Koo Chulhoi 1

1청주대학교

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ABSTRACT

Contrary to the Liberal Welfare Regime model that has emphasized the market-oriented system, this paper explores the Swedish model that has simultaneously grown and pursued welfare by forming a well-balanced triangular structure amongst economy, finance and social security. The Swedish model, with its generous welfare state benefits and high taxation, has succeeded in attaining sustainable economic growth compared with other OECD countries. Impressively, high taxation has not impeded its economic performance. In order to analyse the characteristics of the model in more depth, this paper divides them into two perspectives: economic and social security. Whilst the economic perspective focuses on active labour market policy and fiscal policy, the social security perspective focuses on the principle of beneficiaries and tax payers, with higher participation of women in labour markets and pension systems. This paper emphasizes the fact that the model has stressed the importance on complementing the balance between generous social state benefits and high economic efficiency.

Citation status

* References for papers published after 2022 are currently being built.