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@article{ART002138983},
author={Lee， Jeonghee},
title={Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden},
journal={Korean Society and Public Administration},
issn={1225-8652},
year={2016},
volume={27},
number={2},
pages={295-339}

TY - JOUR
AU - Lee， Jeonghee
TI - Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden
JO - Korean Society and Public Administration
PY - 2016
VL - 27
IS - 2
PB - Seoul Association For Public Administration
SP - 295
EP - 339
SN - 1225-8652
AB - Presently in Korea, there is increasing interest in fiscal rules generally and PAYGO rule in particular, partly due to the deteriorating fiscal health and pressure from international monitoring organizations. Students of public finance in advanced countries have studied institutional mechanism of fiscal rules under the institutional framework of their countries’ budgetary and legislative deicision-making. At the institutionalization stage, still in Korea fiscal rules and PAYGO rule are treated as independent entity without relations to the current legal and institutional system. At the same time, scholars have not paid enough attention to the systme of fiscal rules and just examined the institutional features of each type of fiscal rule. This study tries to fill the gap by studying institutional mechanism of combination of fiscal rules within the legal and institutional framework of Korean political system. For this purpose, this study examines the mechanism of expenditure limits in Sweden and PAYGO rule in U.S. federal government. It is because Korea has hybridization of parliamentary and presidential political system and this dictates legal and institutional environment around optimal fiscal rules similar to these countries. This study examinies institutional credibility of fiscal rule system and checks institutional complementary of candidate fiscal rules. By studying institutional characteristics of fiscal rules, this study concludes that combination of overall expenditure limit and PAYGO rule is mostly needed to curb irresponsible discretionary fiscal policy. This fiscal rules systems should be complemented by institutional support by other institutions such as tax expenditure budget, active budget watch, scientific fiscal forecasting.
KW - Fiscal rules system;expenditure limit;PAYGO rule;institutional credibility;institutional complementarity
DO -
UR -
ER -

Lee， Jeonghee. (2016). Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden. Korean Society and Public Administration, 27(2), 295-339.

Lee， Jeonghee. 2016, "Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden", Korean Society and Public Administration, vol.27, no.2 pp.295-339.

Lee， Jeonghee "Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden" Korean Society and Public Administration 27.2 pp.295-339 (2016) : 295.

Lee， Jeonghee. Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden. 2016; 27(2), 295-339.

Lee， Jeonghee. "Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden" Korean Society and Public Administration 27, no.2 (2016) : 295-339.

Lee， Jeonghee. Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden. Korean Society and Public Administration, 27(2), 295-339.

Lee， Jeonghee. Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden. Korean Society and Public Administration. 2016; 27(2) 295-339.

Lee， Jeonghee. Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden. 2016; 27(2), 295-339.

Lee， Jeonghee. "Institutional Design of Fiscal Rules System in Korea: Focusing on Comparative Institutional Analysis of Fiscal Rule Framework of U.S. and Sweden" Korean Society and Public Administration 27, no.2 (2016) : 295-339.