Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance
Korea's bold initiative, the Green Growth Plan (GGP), spanning 2009 to 2013 with fiscal outlay of US$84 billion, posed a significant challenge to sustainable public finance management in Korea. This paper reviews how Korea accommodated the huge cross-cutting expenditure plan in its annual and medium term budgets. Notably Korea s medium term expenditure framework, the National Fiscal Management Plan, enabled the Ministry of Strategy and Finance s Budget Office to integrate the GGP into the budget and maintain fiscal balance. However, the paper also notes that Korea s experience suggests international standards on budget classification to be updated to accommodate government-wide initiative.
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dig-okr-10986214922024-08-08T13:30:22Z Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance Kang, Young Kyu ACCURATE ASSESSMENT ANNUAL BUDGET ANNUAL BUDGET CYCLE ANNUAL ESTIMATES ANNUAL EXPENDITURES BUDGET CLASSIFICATION BUDGET CLASSIFICATION SYSTEM BUDGET EXECUTION BUDGET FORMULATION BUDGET OFFICE BUDGET REFORM BUDGET REQUESTS BUDGETARY SYSTEMS BUDGETING CAPITAL INVESTMENTS CLIMATE CHANGE EXPENDITURE EXPENDITURES FINANCE MANAGEMENT FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL BALANCE FISCAL BURDEN FISCAL REFORMS FOSSIL FUEL FOSSIL FUELS GOVERNANCE STRUCTURE GOVERNANCE STRUCTURES GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS INFORMATION SYSTEM INITIATIVE INSPECTION INTEGRITY INTERNATIONAL STANDARDS LEADERSHIP LOCAL GOVERNMENT LOCAL GOVERNMENTS MANDATE MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTER MINISTERS NATIONAL BUDGET NATIONAL DEBT NATIONAL FISCAL MANAGEMENT NATIONAL FISCAL MANAGEMENT PLAN PERFORMANCE MEASUREMENT SYSTEMS PLEDGES PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR SPECIALIST RESTORATION ROADS TAX TRANSPORT TRANSPORTATION TRANSPORTATION INFRASTRUCTURE WAGES Korea's bold initiative, the Green Growth Plan (GGP), spanning 2009 to 2013 with fiscal outlay of US$84 billion, posed a significant challenge to sustainable public finance management in Korea. This paper reviews how Korea accommodated the huge cross-cutting expenditure plan in its annual and medium term budgets. Notably Korea s medium term expenditure framework, the National Fiscal Management Plan, enabled the Ministry of Strategy and Finance s Budget Office to integrate the GGP into the budget and maintain fiscal balance. However, the paper also notes that Korea s experience suggests international standards on budget classification to be updated to accommodate government-wide initiative. 2015-02-25T18:24:34Z 2015-02-25T18:24:34Z 2015-01 http://documents.worldbank.org/curated/en/2015/01/24027292/budgeting-green-growth-republic-korea-using-public-financial-management-systems-implement-major-initiatives-maintaining-fiscal-balance https://hdl.handle.net/10986/21492 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ application/pdf text/plain World Bank Group, Washington, DC |
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Banco Mundial |
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Estados Unidos |
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US |
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Bibliográfico |
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biblioteca |
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America del Norte |
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Biblioteca del Banco Mundial |
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English en_US |
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ACCURATE ASSESSMENT ANNUAL BUDGET ANNUAL BUDGET CYCLE ANNUAL ESTIMATES ANNUAL EXPENDITURES BUDGET CLASSIFICATION BUDGET CLASSIFICATION SYSTEM BUDGET EXECUTION BUDGET FORMULATION BUDGET OFFICE BUDGET REFORM BUDGET REQUESTS BUDGETARY SYSTEMS BUDGETING CAPITAL INVESTMENTS CLIMATE CHANGE EXPENDITURE EXPENDITURES FINANCE MANAGEMENT FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL BALANCE FISCAL BURDEN FISCAL REFORMS FOSSIL FUEL FOSSIL FUELS GOVERNANCE STRUCTURE GOVERNANCE STRUCTURES GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS INFORMATION SYSTEM INITIATIVE INSPECTION INTEGRITY INTERNATIONAL STANDARDS LEADERSHIP LOCAL GOVERNMENT LOCAL GOVERNMENTS MANDATE MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTER MINISTERS NATIONAL BUDGET NATIONAL DEBT NATIONAL FISCAL MANAGEMENT NATIONAL FISCAL MANAGEMENT PLAN PERFORMANCE MEASUREMENT SYSTEMS PLEDGES PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR SPECIALIST RESTORATION ROADS TAX TRANSPORT TRANSPORTATION TRANSPORTATION INFRASTRUCTURE WAGES ACCURATE ASSESSMENT ANNUAL BUDGET ANNUAL BUDGET CYCLE ANNUAL ESTIMATES ANNUAL EXPENDITURES BUDGET CLASSIFICATION BUDGET CLASSIFICATION SYSTEM BUDGET EXECUTION BUDGET FORMULATION BUDGET OFFICE BUDGET REFORM BUDGET REQUESTS BUDGETARY SYSTEMS BUDGETING CAPITAL INVESTMENTS CLIMATE CHANGE EXPENDITURE EXPENDITURES FINANCE MANAGEMENT FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL BALANCE FISCAL BURDEN FISCAL REFORMS FOSSIL FUEL FOSSIL FUELS GOVERNANCE STRUCTURE GOVERNANCE STRUCTURES GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS INFORMATION SYSTEM INITIATIVE INSPECTION INTEGRITY INTERNATIONAL STANDARDS LEADERSHIP LOCAL GOVERNMENT LOCAL GOVERNMENTS MANDATE MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTER MINISTERS NATIONAL BUDGET NATIONAL DEBT NATIONAL FISCAL MANAGEMENT NATIONAL FISCAL MANAGEMENT PLAN PERFORMANCE MEASUREMENT SYSTEMS PLEDGES PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR SPECIALIST RESTORATION ROADS TAX TRANSPORT TRANSPORTATION TRANSPORTATION INFRASTRUCTURE WAGES |
| spellingShingle |
ACCURATE ASSESSMENT ANNUAL BUDGET ANNUAL BUDGET CYCLE ANNUAL ESTIMATES ANNUAL EXPENDITURES BUDGET CLASSIFICATION BUDGET CLASSIFICATION SYSTEM BUDGET EXECUTION BUDGET FORMULATION BUDGET OFFICE BUDGET REFORM BUDGET REQUESTS BUDGETARY SYSTEMS BUDGETING CAPITAL INVESTMENTS CLIMATE CHANGE EXPENDITURE EXPENDITURES FINANCE MANAGEMENT FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL BALANCE FISCAL BURDEN FISCAL REFORMS FOSSIL FUEL FOSSIL FUELS GOVERNANCE STRUCTURE GOVERNANCE STRUCTURES GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS INFORMATION SYSTEM INITIATIVE INSPECTION INTEGRITY INTERNATIONAL STANDARDS LEADERSHIP LOCAL GOVERNMENT LOCAL GOVERNMENTS MANDATE MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTER MINISTERS NATIONAL BUDGET NATIONAL DEBT NATIONAL FISCAL MANAGEMENT NATIONAL FISCAL MANAGEMENT PLAN PERFORMANCE MEASUREMENT SYSTEMS PLEDGES PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR SPECIALIST RESTORATION ROADS TAX TRANSPORT TRANSPORTATION TRANSPORTATION INFRASTRUCTURE WAGES ACCURATE ASSESSMENT ANNUAL BUDGET ANNUAL BUDGET CYCLE ANNUAL ESTIMATES ANNUAL EXPENDITURES BUDGET CLASSIFICATION BUDGET CLASSIFICATION SYSTEM BUDGET EXECUTION BUDGET FORMULATION BUDGET OFFICE BUDGET REFORM BUDGET REQUESTS BUDGETARY SYSTEMS BUDGETING CAPITAL INVESTMENTS CLIMATE CHANGE EXPENDITURE EXPENDITURES FINANCE MANAGEMENT FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL BALANCE FISCAL BURDEN FISCAL REFORMS FOSSIL FUEL FOSSIL FUELS GOVERNANCE STRUCTURE GOVERNANCE STRUCTURES GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS INFORMATION SYSTEM INITIATIVE INSPECTION INTEGRITY INTERNATIONAL STANDARDS LEADERSHIP LOCAL GOVERNMENT LOCAL GOVERNMENTS MANDATE MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTER MINISTERS NATIONAL BUDGET NATIONAL DEBT NATIONAL FISCAL MANAGEMENT NATIONAL FISCAL MANAGEMENT PLAN PERFORMANCE MEASUREMENT SYSTEMS PLEDGES PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR SPECIALIST RESTORATION ROADS TAX TRANSPORT TRANSPORTATION TRANSPORTATION INFRASTRUCTURE WAGES Kang, Young Kyu Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance |
| description |
Korea's bold initiative, the Green
Growth Plan (GGP), spanning 2009 to 2013 with fiscal outlay
of US$84 billion, posed a significant challenge to
sustainable public finance management in Korea. This paper
reviews how Korea accommodated the huge cross-cutting
expenditure plan in its annual and medium term budgets.
Notably Korea s medium term expenditure framework, the
National Fiscal Management Plan, enabled the Ministry of
Strategy and Finance s Budget Office to integrate the GGP
into the budget and maintain fiscal balance. However, the
paper also notes that Korea s experience suggests
international standards on budget classification to be
updated to accommodate government-wide initiative. |
| topic_facet |
ACCURATE ASSESSMENT ANNUAL BUDGET ANNUAL BUDGET CYCLE ANNUAL ESTIMATES ANNUAL EXPENDITURES BUDGET CLASSIFICATION BUDGET CLASSIFICATION SYSTEM BUDGET EXECUTION BUDGET FORMULATION BUDGET OFFICE BUDGET REFORM BUDGET REQUESTS BUDGETARY SYSTEMS BUDGETING CAPITAL INVESTMENTS CLIMATE CHANGE EXPENDITURE EXPENDITURES FINANCE MANAGEMENT FINANCIAL CRISIS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MANAGEMENT SYSTEMS FISCAL BALANCE FISCAL BURDEN FISCAL REFORMS FOSSIL FUEL FOSSIL FUELS GOVERNANCE STRUCTURE GOVERNANCE STRUCTURES GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES GREENHOUSE GAS GREENHOUSE GAS EMISSIONS INFORMATION SYSTEM INITIATIVE INSPECTION INTEGRITY INTERNATIONAL STANDARDS LEADERSHIP LOCAL GOVERNMENT LOCAL GOVERNMENTS MANDATE MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTER MINISTERS NATIONAL BUDGET NATIONAL DEBT NATIONAL FISCAL MANAGEMENT NATIONAL FISCAL MANAGEMENT PLAN PERFORMANCE MEASUREMENT SYSTEMS PLEDGES PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FINANCIAL MANAGEMENT SYSTEMS PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR SPECIALIST RESTORATION ROADS TAX TRANSPORT TRANSPORTATION TRANSPORTATION INFRASTRUCTURE WAGES |
| author |
Kang, Young Kyu |
| author_facet |
Kang, Young Kyu |
| author_sort |
Kang, Young Kyu |
| title |
Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance |
| title_short |
Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance |
| title_full |
Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance |
| title_fullStr |
Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance |
| title_full_unstemmed |
Budgeting for Green Growth in the Republic of Korea : Using Public Financial Management Systems to Implement Major Initiatives while Maintaining Fiscal Balance |
| title_sort |
budgeting for green growth in the republic of korea : using public financial management systems to implement major initiatives while maintaining fiscal balance |
| publisher |
World Bank Group, Washington, DC |
| publishDate |
2015-01 |
| url |
http://documents.worldbank.org/curated/en/2015/01/24027292/budgeting-green-growth-republic-korea-using-public-financial-management-systems-implement-major-initiatives-maintaining-fiscal-balance https://hdl.handle.net/10986/21492 |
| work_keys_str_mv |
AT kangyoungkyu budgetingforgreengrowthintherepublicofkoreausingpublicfinancialmanagementsystemstoimplementmajorinitiativeswhilemaintainingfiscalbalance |
| _version_ |
1807157340720332800 |