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  • 83

    Vol. 116 The Effects of Demographic Changes on Economic Growth: The Case of OECD Countries

    [Analysis & Evaluation Reports > NABO Briefing ] 2021-12-29

    OECD countries are undergoing a demographic change as the working-age population decreases while the elderly population increases. In countries with a rapid aging population, such as South Korea and Japan, economic growth and the share of working-age population are positively correlated. In contrast, in countries such as the UK and US, this correlation has weakened since the 2010s. This indicates that the negative effects of population aging have been offset by increased labor force participatio...

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  • 82

    Comprehensive Analysis of the FY 2021 Budget Bill Vol.Ⅰ

    [Analysis & Evaluation Reports > Analysis of National Finance & Programs ] 2021-12-27

    Part Ⅱ. General Review Of The FY 2021 Budget Bill   chapter 1. Analysis of Total Amount of Finance   chapter 2. Proposal for System Improvements Related to Budget and National Finance Part Ⅲ. Overall Analysis Of National Finance   chapter 1. Analysis of Fiscal Soundness and National Fiscal Management Plan   chapter 3. Analysis for Each of 12 Areas   chapter 4. Analysis of Mandatory Expenditures Project Budget Bill ...

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      Comprehensive Analysis of the FY 2021 Budget Bill Vol. Ⅰ.pdf

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  • 81

    Vol. 39 2022 Budget Overview (English Edition)

    [Periodicals > NABO Focus ] 2021-12-17

    ▪ The National Assembly (NA) passed the 2022 budget with total revenue of 553.6 trillion Korean won and total expenditure of 607.7 trillion won.▪ The consolidated fiscal deficit of FY2022 is expected to be 54.1 trillion won, the operational fiscal deficit 94.1 trillion won, and the national debt 1,064.4 trillion won (50.0% of GDP).▪ In terms of the YoY increase, the health/welfare/employment area ranked first (18.0 trillion won), followed by general/local administration (13.4 trillion won), and ...

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  • 80

    Vol. 38 Main content of FY2020 Settlement of Accounts Review (English Edition)

    [Periodicals > NABO Focus ] 2021-12-09

    On May 31, 2021, the government submitted the FY2020 National Statement of Accounts Report to the National Assembly. After examinations on the FY2020 settlement of accounts by the Standing Committees and the Special Committee on Budget and Accounts (SCBA), the National Assembly decided on the original bill at the December 2, 2021 plenary session. The National Assembly demanded for 1,881 corrections and four audits. It provided 21 incidental opinions. ...

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  • 79

    Vol. 37 Final Agreement on the OECD International Tax Reform and Future Tasks (English Edition)

    [Periodicals > NABO Focus ] 2021-11-24

    ▪ The globalization and digitalization of the world economy have fueled an international issue whereby multinational enterprises (MNEs) earn significant incomes without paying corporate income taxes in market jurisdictions.▪ International discussions coordinated by the OECD have resulted in the preparation of a plan for the digital economy to reallocate taxing rights to jurisdictions where MNEs have a substantial economic rather than physical presence.▪ The OECD/G20 Inclusive Framework on BEPS (...

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  • 78

    Vol. 36 Recent Disruptions to Global Supply Chain and Inflationary Pressure (English Edition)

    [Periodicals > NABO Focus ] 2021-10-26

      ▪ The global economy is recovering thanks to widespread COVID-19 vaccination and economic stimulus measures. However, the global supply chain remains unstable.▪ Inflation in advanced economies and emerging markets/developing countries is partly due to strong global demand. Global supply shortages caused by the global supply chain disruption in 2021 are another factor.▪ Automotive semiconductors shortages are causing automakers to cut production and increase prices.▪ Inflation in Eur...

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  • 77

    Vol. 115 Analysis of Research Outputs Utilization System of National R&D Program (English Edition)

    [Analysis & Evaluation Reports > NABO Briefing ] 2021-10-15

    The Korean government has shifted its R&D investment position from a fast-follower to a first-mover by expanding investments in high-risk, innovative R&D as well as research into future leading industries. Producing innovative R&D outputs requires stable financial support for creative and challenging R&D projects in the long term. However, it also needs systematic output utilization support, such as follow-up R&D, finding potential users, market creation, and regulation ...

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  • 76

    Vol. 114 Evaluation of the National Health Screening Program

    [Analysis & Evaluation Reports > NABO Briefing ] 2021-10-06

    The National Health Screening Program (NHSP) of Korea was launched in the 1950s and has long supported the nation’s health management efforts. Recent low fertility and an aging population have highlighted the importance of healthy citizens, the primary agents of economic activity. The NHSP is essential in supporting the health of citizens as it manages national assets. The government should conduct a policy review to identify blind spots in supporting citizens staying healthy through t...

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  • 75

    Vol. 113 Analysis of Grain Supply and Demand Stabilization Projects and Policies

    [Analysis & Evaluation Reports > NABO Briefing ] 2021-10-01

    Due to the recent decrease in grain production in major exporting countries and trade restrictions driven by the COVID-19 pandemic, the FAO Food Price Index increased from 91.0 in May 2020 to 127.4 in August 2021, and Korea’s grain self-sufficiency rate decreased from 43.1% in 1990 to 21.0% in 2019. Korea is increasing grain imports as the world's 7th largest grain importer. However, it lacks awareness regarding the stabilization of the grain supply and demand due to the illusion caused by its h...

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      Vol. 113 Analysis of Grain Supply and Demand Stabilization Projects and Policies.pdf

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  • 74

    Vol. 112 Analysis on the Policy Responses to Low Fertility

    [Analysis & Evaluation Reports > NABO Briefing ] 2021-08-23

    According to the Framework Act on Low Fertility Rates and Aging Society, the government develops a Framework Plan to Address Low Fertility Rates and Population Aging every five years. The central government’s budget on such measures has continued to increase from KRW 1.0 trillion in 2006 to KRW 42.9 trillion in 2021. However, despite the government's ongoing efforts, the declining pace of the total fertility rate has been accelerating since 2016, and from 2018, the rate has fallen to less than o...

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