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OECD Economic Surveys: Korea 2012
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- Table of contents
- Basic statistics of Korea
- Executive summary
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Assessment and recommendations
- Figure 1. Macroeconomic developments in Korea
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Korea’s economic expansion and macroeconomic policies to sustain it
- Korea experienced slower growth and higher inflation in 2011
- The pace of growth is projected to pick up, although there are a number of risks
- + Spending restraint is aimed at achieving the 2013 balanced budget target
- + Monetary policy tightening has paused since mid-2011
- + Exchange rate policy and capital flows
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Policies to promote economic growth
- Figure 5. Korea continues to converge towards the United States
- Figure 6. Population ageing in Korea is projected to be the fastest in the OECD area
- + Achieving low carbon, green growth
- + Labour market measures to promote growth
- + Pro-growth tax reform to finance increasing spending
- + Enhancing the contribution of the education system to growth
- + Developing the service sector
- + Policies to promote social cohesion by addressing rising income inequality and relative poverty
- + Conclusion
- Bibliography
- + Annex A.1. Economic co-operation with North Korea
- Annex A.2. Progress in structural reforms
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Chapter 1.
Sustaining Korea’s convergence to the highest-income countries
- Figure 1.1. Korea’s per capita income is converging to the most advanced countries
- Figure 1.2. Population ageing in Korea will be the fastest in the OECD area
- + Korea’s long-run growth potential
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Labour market reforms to boost employment and productivity
- + Tax policies to promote employment and growth
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Policies to improve educational outcomes
- Figure 1.13. The rapid expansion of educational attainment in Korea
- + Upgrade the quality of early childhood education and care
- Improve the quality of primary and secondary schools through greater autonomy and diversity
- Upgrade the tertiary sector
- + Improving vocational education to address the overemphasis on tertiary education
- + Increasing the role of the education system in innovation
- + Promoting the development of the service sector
- + Conclusion
- Notes
- Bibliography
- + Chapter 2. Achieving the “low carbon, green growth” vision in Korea
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Chapter 3.
Promoting social cohesion in Korea
- Figure 3.1. Income inequality and relative poverty are increasing
- + Rising income inequality and relative poverty and the factors behind it
- + Social spending is low but increasing rapidly
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Increasing social spending to promote social cohesion
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Labour market reforms to promote social cohesion by breaking down dualism
- Table 3.2. Flexibility and security in the Korean labour market
- Figure 3.6. International comparison of temporary employment
- + Factors explaining the high level of labour market dualism
- The impact of the 2007 labour law reform
- + Problems associated with the high share of non-regular workers
- Policies to address labour market dualism
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Reforms in the education system to promote social cohesion
- + Improving access to high-quality early childhood education and care
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Reducing the reliance on private tutoring: addressing the issue of hagwons
- Table 3.7. Private, after-school education in Korea in 2010
- Figure 3.10. The percentage of students attending after-school lessons in Korea is exceptionally high
- + Box 3.1. Why parents send their children to private, after-school lessons
- Table 3.9. Participation and spending in private tutoring rises with academic performance
- Figure 3.11. Household income and participation and spending on private tutoring in 2010
- Table 3.10. Policies that would reduce spending on private tutoring
- + Reducing the burden of tertiary education
- + The service sector as a factor in inequality
- + Conclusion
- Notes
- Bibliography
OECD's 2012 Economic Survey of Korea examines recent economic developments, policies and prospects. In addition, it includes special chapters covering sustaining convergence to the highest-income countries and promoting social cohesion.
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Book Details
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Categories
Business & Economics > Economic Conditions
Publishers
Publication year : 2012
License: All rights reserved ©
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