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Enhancing accountability of Korea’s government funds system through consolidated management of surplus money in budget-type funds

In: Fiscal Accountability and Population Aging

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  • Yongok Choi

Abstract

This chapter analyzes Korea’s government fund system in terms of fiscal accountability and ways to improve it. Accountability goals are not properly established; accounting is undertaken on each fund separately, thus comparable information to evaluate expenditure cannot be generated; and there are several cases where surplus funds are used as pocket money by government departments. These problems can be alleviated through integrated management of surplus money from budget-type funds. This study empirically shows that the efficiency of national finances can be improved through the consolidated management of surplus money from budget-type funds.

Suggested Citation

  • Yongok Choi, 2021. "Enhancing accountability of Korea’s government funds system through consolidated management of surplus money in budget-type funds," Chapters, in: Robert L. Clark & YoungWook Lee & Andrew Mason (ed.), Fiscal Accountability and Population Aging, chapter 4, pages 73-92, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19940_4
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    Keywords

    Asian Studies; Economics and Finance;

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