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KMID : 1124020180340020065
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Korean Social Security Studies
2018 Volume.34 No. 2 p.65 ~ p.94
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Projection and Evaluation of the Financial Burdens between the Central and Local Governments according to the New Government Welfare Policy - Focusing on Local Governments in Seoul, Busan, Daegu, Chungbuk, and Gyeongbuk -
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Shin Woo-Jin
Lee Sang-Ho
Han Jae-Myung
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Abstract
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The purpose of this study is to predict the increase in financial burden between the central and local governments due to the expansion of the new government's major welfare policies and to derive their implications. First, we estimated central and local financial burden of major welfare policies such as basic pension, child care subsidy, home care allowance, child allowance, livelihood benefit, medical benefit and housing benefit considering the change of regional population structure during 2017~2022. Second, we also estimated the Metropolitan City/Province's and City/County/Autonomous District's burdens in Seoul, Busan and other regions which provide population projections of their lower level governments. As a result, it is predicted that the growth rate of the local government welfare expenditure will be much higher than the annual growth rate of revenue in some local governments with relatively poor financial capacity. This suggests that it is necessary to prepare measures to reduce the burden considering the financial capacity for local governments whose burden of local welfare expenditures is increasing rapidly.
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KEYWORD
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new government policy, financial projection, local public finance, financial burden
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