01787cas a2200241 a 4500 AALejournalIMF013141 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475549218 1018-5941 BD-DhAAL BD-DhAAL Elekdag, Selim. Social Spending in Korea : Can it Foster Sustainable and Inclusive Growth? / Selim Elekdag. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (21 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Going forward, Korea faces two closely related challenges: sustaining economic growth against the backdrop of a rapidly aging population and ameliorating income inequality. This paper argues that a gradual increase in social spending could promote more sustainable and inclusive growth in Korea. In particular, simulation results suggest that social spending which supports labor market reforms can boost longer-term growth. However, despite rapid increases recently-albeit from a low base-there is still a social spending gap relative to Korea's OECD peers. Because of several fiscal challenges in the coming decades, increases in social spending should be incremental, and would be usefully guided by a longer-term fiscal framework. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2012/250 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/250/001.2012.issue-250-en.xml IMF e-Library