The Korean Economy: A Critical Assessment from the Japanese Perspective
Author
Fukagawa Yukiko
Date
2005-01-18
Views
3807
F.Yukiko_The_Korean_Economy_a_Critical_Assessment1
The Korean Economy: A Critical Assessment from the Japanese Perspective
- Speaker: Fukagawa Yukiko, Professor, University of Tokyo
- Date : March 22, 2005.
"Another potential risk [for Korea], especially since it has now democratized, is pressure on the national budget. Japan is a very typical case. Politicians try to increase their popularity by spending the government budget in such a baramaki way. Baramaki is when you give money to everybody. There is no frustration and at least somebody can get something. As a result of the whole baramaki system, the Japanese budgetary system is almost bankrupt. As long as you have zero discipline over the budget, you won't have a strong political system. This is bad. Normally, politicians are exposed to temptations for populism. Pressure might be there. Korea needs to avoid this..."
The Korean Economy: A Critical Assessment from the Japanese Perspective
- Speaker: Fukagawa Yukiko, Professor, University of Tokyo
- Date : March 22, 2005.
"Another potential risk [for Korea], especially since it has now democratized, is pressure on the national budget. Japan is a very typical case. Politicians try to increase their popularity by spending the government budget in such a baramaki way. Baramaki is when you give money to everybody. There is no frustration and at least somebody can get something. As a result of the whole baramaki system, the Japanese budgetary system is almost bankrupt. As long as you have zero discipline over the budget, you won't have a strong political system. This is bad. Normally, politicians are exposed to temptations for populism. Pressure might be there. Korea needs to avoid this..."
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