OECD Economic Surveys: Korea 1996
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01 Jan 1996
; 9789264148888 (print)
OECD's 1996 Economic Survey of Korea examines recent trends and prospects, financial opening and its economic implications, the state of public finances, and structural reform in the product and labour markets.
-The contours of the Korean economic miracle
-How does the economy's present situation compare internationally?
-The importance of further economic reform
I. Recent trends and prospects
-A strong upswing since 1993...
-...was led mainly by business investment and exports...
-...while personal sector demand grew only modestly
-With imports increasing rapidly...
-...the current account deficit widened
-At the same time, the labour market tightened significantly...
-...but inflation remained relatively stable...
-...and seems unlikely to accelerate given the expected slowdown in activity
II. Financial opening and its policy implications
-The steps towards financial deregulation up to 1995
-The current government's liberalisation programme
-Financial policies during the transition
III. The state of public finances
-The healthy government financial position
-The need to increase social welfare and infrastructure spending
-Changes in the tax system
IV. Structural reform in the product and labour markets
-Labour market policy
Statistical annex and structural indicators