Republic of Korea: Staff Report for the 2013 Article IV Consultation
Electronic Access:
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Summary:
This 2013 Article IV Consultation highlights that the Republic of Korea has experienced impressive growth since the 1970s, enabling it to escape the middle-income trap. Policies should aim to tackle the weakness of domestic demand and counter forthcoming headwinds to potential growth. Korea is reaping the benefits of prudent macroeconomic management and financial moderation. The economy faces significant medium-term growth and inclusiveness challenges. Slow household income growth hinders stabilization in household debt and weighs on domestic demand, while services sector productivity is very low.
Series:
Country Report No. 2014/101
Subject:
Banking Economic and financial statistics External debt Fiscal policy Government finance statistics Income National accounts Public debt
English
Publication Date:
April 17, 2014
ISBN/ISSN:
9781484355619/1934-7685
Stock No:
1KOREA2014001
Pages:
64
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