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Determinants of Fiscal Decentralization Policy in the Republic of Korea
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- Authors
- Issue Date
- 1993
- Citation
- Korean Journal of Policy Studies, Vol.8, pp. 91-107
- Abstract
- The aim of this research is to explore the assignment of fiscal responsibility
among levels of government and to evaluate the relative importance of socio-economic
development and political-administrative conditions as determinants that
explain the variations of fical decentralization policy of government in Korea. The
empirical work was based on theoretical work in the area. Time-series data are
used to include political and administrative variables which had not been included
in previous empirical studies of this area.
Regression equations were estimated by Ordinary Least Squares, Cochrane-
Orcutt, and Maximum Likelihood techniques, whichever allowed for autocorrelation
among the explanatory variables. The empirical results of the determinants
study support much of the theoretical work in the area of fiscal decentralization.
Socio-economic development, political democracy instability, and administrative
factors primarily explain the variations in fiscal decentralization.
Findings in this study suggest that if the goal of intergovernmental fical policy is
to encourage fiscal decentralization or composite decentralization, then it should
emphasize the political and administrative factors as well as the socio-ecomomic
development factor.
- ISSN
- 1225-5017
- Language
- English
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